Kme Group

Capital/Financing Update • Nov 25, 2022

Informazione Regolamentata n. 0240-83-2022		Data/Ora Ricezione 25 Novembre 2022 07:11:08	Euronext Milan
Societa'	:	KME GROUP
Identificativo Informazione Regolamentata	:	169792
Nome utilizzatore	:	SMIN02 - Mazza
Tipologia	:	3.1
Data/Ora Ricezione	:	25 Novembre 2022 07:11:08
Data/Ora Inizio Diffusione presunta	:	25 Novembre 2022 07:11:09
Oggetto	:	KME Group: Renewal of banks pool facility and factoring
Testo del comunicato

Vedi allegato.

KME Group SpA

Registered Office: 20121 Milan (MI) Foro Buonaparte, 44 Share Capital: Euro 200.070.076,44 i.v. Milan Company Register – Tax I.D. Nr. 00931330583 www.itkgroup.it

PRESS RELEASE

KME GROUP: RENEWAL OF BANK FACILITY FOR WORKING CAPITAL LINES OF 330 MILLION EURO AND FACTORING LINES OF 376.5 MILLION EURO AND FINALIZATION OF NEW FACILITY OF 110 MILLION EURO FOR EARLY REDEMPTION OF THE BOND

Milan, 25th November 2022 - KME Group S.p.A. informs that its subsidiary KME SE has entered into an agreement with the Group's banks (Coordinating Mandated Lead Arranger: Deutsche Bank AG; Mandated Lead Arrangers: Banca Nazionale del Lavoro S.p.A. and UniCredit S.p.A.; Lead Arrangers: Banco BPM S.p.A. and Intesa Sanpaolo S.p.A.; Arrangers:: Banca Monte dei Paschi di Siena S.p.A., Arab Bank Corporation S.A., Frankfurt Branch, Goldman Sachs Bank Europe SE, Mediobanca S.p.A. and Illimity Bank S.p.A.) to extend the bank facility for an amount of 330 million euro available on a revolving basis, with expiry date on 30th November 2023, with additional three-year extension option on lenders' consent.

This agreement confirms the flexible structure of the facility to cope with the Group's working capital financing needs that are primarily linked to the inventory.

At the same time of the bank pool facility renewal, also the existing factoring lines with Factofrance for 150 million euro have been extended until 30th November 2023 (with an automatic one-year extension in case of bank facility extension), as well as those with Intesa Sanpaolo for 126.5 million euro until 30th September 2024. Both lines have an option for a two-year extension, subject to factor's consent.

Also the factoring lines with TARGOBANK have been extended until 31st January 2025 for an amount of 100 million euro.

Furthermore, KME SE has finalized a facility agreement with Goldman Sachs Bank USA for a financing in the amount of 110 million euro, expiring in October 2023, to be used for the early redemption of the remaining 110 million euro of the senior secured notes, due in 2023, with an original amount of 300 million euro.

The new agreements represent the achievement of a further important target in the frame of the general strategy pursued by KME of (a) strong focalization of the Group on the main core business of rolled products, with the aim of becoming the European leader in the sector, and (b) progressive deleveraging; both objectives have also been achieved through important M&A operations concluded in the last 18 months, with positive economic, financial and market results.

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The press release is available on the Company's website, www.itkgroup.it. Additional information may be directly requested from the Company (telephone number +39.02.806291; e.mail: info@itk.it) and through the "eMarket STORAGE" at the address: .