Capital/Financing Update • Sep 18, 2018
Capital/Financing Update
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| Informazione Regolamentata n. 0262-44-2018 |
Data/Ora Ricezione 18 Settembre 2018 10:42:51 |
MTA | ||
|---|---|---|---|---|
| Societa' | : | TREVI GROUP | ||
| Identificativo Informazione Regolamentata |
: | 108554 | ||
| Nome utilizzatore | : | TREVIN02 - Cocco | ||
| Tipologia | : | REGEM | ||
| Data/Ora Ricezione | : | 18 Settembre 2018 10:42:51 | ||
| Data/Ora Inizio Diffusione presunta |
: | 18 Settembre 2018 10:42:52 | ||
| Oggetto | : | Trevi Group_PR September 18, 2018 | ||
| Testo del comunicato |
Vedi allegato.
Cesena, September 18, 2018 – With reference to the standstill agreement (the "Agreement") with the banks (in relation to which reference can be made to the press releases dated July 18 and 27 2018, August 10, 2018 and September 14, 2018, made available on its website www.trevifin.com, in the section "Press Releases"), the Company announces that, yesterday late evening, it has received confirmation that the Agreement has been accepted by a number of financial creditors representing 93% of the overall indebtedness owed by the Trevi Group to the banks expected to adhere to the Agreement, which threshold will allow the entry into force of the Agreement.
The Agreement, which has been entered into by the main Trevi Group companies, provides, amongst other things, a suspension of the payment obligations in relation to principal amounts relating to the medium-long term facilities granted to the Trevi Group, until 31 December 2018 (the "Standstill Period") as well as, only in relation Trevi Finanziaria Industriale S.p.A., a suspension of the interest payment obligations relating to medium-long term facilities. The Agreement also provides for the confirmation of existing short-term commercial facilities up to the amounts currently utilized, as well as, in relation to Trevi S.p.A., Soilmec S.p.A. and the other Trevi Group Companies of the foundation division, the right to make new utilizations of the existing facilities which have been confirmed in the context of the Agreement, both in the form of cash advances and in the form of issuance of new guarantees. Such utilizations will allow the Group, during the Standstill Period, to finance its liquidity needs and to support its business on the national and international markets in which the Group operates.
The Agreement is also aimed at allowing the Company to continue the ongoing negotiations with its stakeholders for the finalization of the equity strengthening and debt restructuring transaction through the "stand-alone" scheme (in relation to which reference can be made to the press release dated September 14, 2018).
Trevi Group is a worldwide leader in the field of soil engineering (special foundations, tunnel excavation, soil consolidation and the building and marketing of special rigs and equipment relevant to this engineering sector); the Group is also active in the drilling sector (oil, gas and water) both in the production of plant and the supply of services, and it also builds automated underground car parks. The Group was established in Cesena in 1957 and today has more than 30 branches and is present in over 80 countries. Its success is due to the vertical integration of the main divisions making up the Group: Trevi, the division that supplies special services in the field of soil engineering, Petreven, the oil drilling division of the Group, Soilmec, the division that produces and develops plant and machinery for soil engineering and Drillmec the division that produces and develops drilling rigs (oil, gas and water). The parent company has been listed on the Milan stock exchange since July 1999.
Investor Relations: Francesca Cocco – e-mail: [email protected]
Group Communications Office: Franco Cicognani - e-mail: [email protected] – tel: +39/0547 319503
Auro Palomba - [email protected]
Roberto Patriarca – (T. +39 335 65 09568) - Roberto.patriarca@communitygroup.
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