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Saras announces EUR 175 million private placement of bonds

July 11, 2014

ENP Newswire - 11 July 2014

Release date- 10072014 - Milan - Saras SpA announces a private placement of bonds with a total principal amount of EUR 175 million.

The bonds bear a yearly coupon of 5% and mature on the 17th of July 2019. Saras applied for the listing of the bonds on the multilateral trading facility of the Third Market of the Wiener Borse AG. The net proceeds from the bonds' issuance will be used by Saras SpA to partially refinance existing debt, as well as for general corporate purposes. Banca IMI acted as sole lead manager for this private placement.

The bonds will only be offered and sold outside the United States to institutional investors that are non 'U.S. persons' (as such term is defined in Regulation S under the U.S. Securities Act of 1933, as amended (the 'Securities Act')) and have not been and will not be registered under the Securities Act or any other securities laws. The bonds will not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, securities, nor shall there be any sale of these notes in any state or jurisdiction in which such an offer or sale would be unlawful. No action has been or will be taken to permit a public offering of the bonds in any jurisdiction, including Italy. This press release is not an offer of securities for sale or a solicitation of an offer to buy securities in the United States or any other jurisdiction, including Italy.

The securities of Saras SpA may not be offered or sold in the United States or to or for the account or benefit of 'U.S. persons' (as such term is defined in Regulation S under the Securities Act) unless registered under the Securities Act or pursuant to an exemption from such registration. Such securities have not been, nor will be, registered under the Securities Act, and Saras SpA does not intend to conduct a public offering of any securities in the United States or elsewhere.

The offering of the bonds has not been cleared by the Commissione Nazionale per le Societa e la Borsa (CONSOB), pursuant to Italian securities legislation. Accordingly, the bonds have not been and will not be offered, sold or delivered in Italy in a solicitation to the public (sollecitazione all'investimento), and the bonds may only be offered, sold or delivered in Italy in compliance with applicable laws and regulations.

This press release is directed only (i) to persons who are outside the United Kingdom, (ii) to persons who have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the 'Financial Promotion Order') or (iii) to high net worth entities falling within Article 49(2)(a) to (d) ('high net worth companies, unincorporated associations, etc.') of the Financial Promotion Order (all such persons together being referred to as 'Relevant Persons').

This press release must not be acted on or relied on by persons who are not Relevant Persons. Any investment activity to which this press release relates is reserved for Relevant Persons only and may only be engaged in by Relevant Persons. This press release contains forward-looking statements. These statements reflect current beliefs, as well as assumptions made by, and information available to, the entities referred to in this press release.

Forward-looking statements are not guarantees of future performance and involve risks and uncertainties. Actual future results and developments could differ materially from those set forth in these statements due to various factors. These factors include, among others, changes in the general economic and competitive situation, particularly in Saras SpA's businesses and markets.

In addition, future results and developments could be affected by the performance of financial markets, fluctuations in exchange rates and changes in national and supranational law. None of the companies referenced in this press release undertake any obligation to update forward-looking statements.

Investor Contact:

Tel: + 39 02 7737642


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Source: ENP Newswire

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