A Commercial Paper program established
Milan, 19 September 2003 Further to the Resolution taken by the Board of Management on September 5th, Pirelli & C. SpA announces the establishment of an Euro Commercial Paper Program for a total amount of maximum 500 million Euros.
The main characteristics of the Program are:
Issuer: Pirelli Finance (Luxembourg) S.A.
Guarantor: Pirelli & C. S.p.A.
Total Amount: 500 million Euros
Tenor of the Program: 5 years
Single issues maximum maturity: 364 days
This new money market tool will enable the Pirelli Group to collect short term liquidity on an extremely flexible rates regime with the view to optimize the Group financial structure
Mediobanca - Banca di Credito Finanziario SpA is the Arranger and the Dealer of the Program, while Socit Europenne de Banque S.A. acts as Issue and Paying Agent.