Ansaldo Energia industrial plan launched, increase from 580 million

Maneuver of 580 million

The maneuver in support of the new plan envisages, among other things, «a cash capital increase of a total of 580 million euros offered as an option to the shareholders, intended to financially support the investments and the implementation of the new plan and to provide the necessary funding for the partial repayment of the loan by the banks in the syndicate”.

Of these 580 million, 380 are used to eliminate the bond loan maturing in May 2024 from the market; of the remaining 230 million, a predominant part will be used to repay the bank loan and a smaller part for the company’s economic and operational needs.

The maneuver also provides for the extension of the maturity of the existing shareholder loan of 200 million disbursed by the shareholder Cdp Equity. As well as the extension, by the pool of banks that support the company, of the maturities of the existing medium/long-term credit lines; and signature lines for issuing guarantees to support the development of the new plan. Finally, there is the request for a bank loan with the support of Sace (pursuant to the SupportItalia guarantee).

Agreements with banks by April

To allow the implementation of the manoeuvre, the note concludes, « the board of directors has conferred a mandate on the executive bodies for the finalization of the definitive agreements with the credit institutes and with the other subjects involved. In the coming weeks, and reasonably within the month of April, these agreements will hopefully be concluded and the shareholders’ meeting will therefore be convened”.

From 1 April Fabrizio Fabbri, co-opted by the board of directors, will assume the position of managing director of the group, replacing the outgoing Giuseppe Marino.