PIRELLI REPURCHASES AND CANCELS 17.6 MILLION EURO OF 2023 BONDS
Mandate for the partial buy-back of up to 50 mln euro still under way, will last until 14 December
Milan, 20 November 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 repurchased and simultaneously cancelled bonds for a total nominal value of 17.6 million euro.
The bonds were bought by Goldman Sachs International, with a mandate from Pirelli, in the period from October 31 to November 15, 2018 at an average price of about 96.149% per bond. The partial bond buy-back program – as already announced to the market – will extend until December 14, 2018, unless there is an early termination because the maximum amount foreseen has been reached.
Accordingly, aggregate outstanding principal amount of bonds as at the date hereof is Euro 582.4 million.