Sabaf has completed the placement of a senior, unsecured, non-convertible and unsubordinated bond loan for a value of 30 million euros, fully subscribed by Pricoa Private Capital Group (a company of the US group Prudential Financial). The bonds were issued in a single tranche, have a duration of 10 years and an average life of 8 years. The fixed coupon is 1.85%. The company announced this in a press release in which it specifies that with the loan it can diversify the sources of financing, improve its financial flexibility and significantly extend the average duration of the debt.
“The placement of this bond allows the Sabaf Group to equip itself with new resources to support the development objectives that we intend to pursue, in the two directions of organic international growth and expansion by external lines”, commented Pietro Iotti, CEO Sabaf.