PIRELLI: MARCO POLO INDUSTRIAL HOLDING ABOVE 50%-OF-CAPITAL THRESHOLD, EARLY REIMBURSEMENT OF TWO FINANCINGS POSSIBLE
As Marco Polo Industrial Holding has acquired over 50% of the ordinary capital of Pirelli, Pirelli announces that – as already signaled in the Issuer Press Release published on September 8th, 2015 – with regard to the Payment Date (October 20th, 2015) a “change of control” event will take place with regard to the two financings headed by Pirelli International Ltd. and guaranteed by Pirelli & C. S.p.A. and Pirelli Tyre S.p.A. Following such an event, the creditors of the “US Private Placement” loans, for an amount of 150 million US dollars, and of one “Schuldschein”, for a residual amount today of 43 million, will have the possibility of asking for early reimbursement for a maximum total nominal amount, as of today, of approximately 176 million euro. Eventual reimbursement requests would be satisfied via already available lines of credit and without the need to resort to new financings.
