PIRELLI CONCLUDES PARTIAL BUYBACK OF 2023 BONDS FOR A TOTAL OF 47 MILLION EURO
Bonds acquired and cancelled in context of 50 million euro program
Milan, 19 December 2018 - With reference to the announced partial buy-back program of the bond denominated “Pirelli & C. S.p.A. €600,000,000 1.375 per cent. Guaranteed Notes due 25 January 2023" (ISIN: XS1757843146) up to a nominal maximum of 50 million euro, Pirelli & C. SpA announces that today it bought and simultaneously cancelled additional bonds for a total nominal value of 3 million euro.
The bonds were bought by Goldman Sachs International, with a mandate from Pirelli, in the period from December 7 to December 14, 2018 at a price of about 96.714% per bond. These purchases followed, as already communicated to the market, those carried out in the period from 31 October to 15 November for 17.6 million euro and those of 16 November to 6 December for 26.4 million euro.
At the conclusion of the partial buy-back program, bonds therefore bought back and cancelled totaled 47 million euro in value at an average price of 96.110% and, consequently, the total nominal value of bonds in circulation as of the date of this announcement stands at 553 million euro.