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Meglioquesto Capital/Financing Update 2022
4345_rns_2022-02-08_e957cbbe-b8e1-492e-ab80-14099541817c.pdf
Capital/Financing Update
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PRESS RELEASE
MEGLIOQUESTO: ENTERED INTO € 15.5 MILLION WORTH OF LOAN AGREEMENT WITH ILLIMITY BANK
PART OF THE AMOUNT WILL GO TOWARDS PAYING OFF AN EXISTING LOAN EARLY, WITH ABOUT € 2 MILLION IN SAVINGS OVERALL
THE CASH FLOW FREED UP WILL FACILITATE ORGANIC AND INORGANIC GROWTH OPPORTUNITIES
Milan, 8 February 2022
MeglioQuesto (1CALL:IM), an Italian leader in the multi-channel customer experience sector, announced that today it has entered into three loan agreements with illimity Bank S.p.A. totalling € 15.5 million with maturity on 31 December 2027.
The loan will go towards the steady optimisation of the financial structure, facilitating the pursuit of the company's strategy and the generation of value for equity owners. Specifically, in accordance with the limitations under Italian law and SACE's Terms and Conditions, - as per Italian Decree Law no. 23/2020, known as Liquidity Decree - € 10.5 million may be used to finance working capital, staff costs, and investments in production facilities and business operations in Italy, while the remaining € 5 million may be used also for acquisitions.
Among other things, this will allow paying off early the RiverRock loan (€ 9.3 million, including the prepayment penalty) entered into in 2020 to finance the acquisition of AQR, resulting in approximately € 1.84 million in overall savings in the 2022-2025 period, including approximately € 0.56 million in 2022.
The deal involves three lines of credit governed by three separate loan agreements: € 5.5 million TLA, backed by Garanzia Italia; € 5 million TLB, backed by Garanzia Italia MidCap; € 5 million TLC. Under the agreement, starting from the Drawdown Date, MeglioQuesto is to pay an annual interest rate equal to the Euribor rate for the period (3M), it being understood that, should this rate be negative, it shall be considered equal to zero, plus a margin of interest.
The more favourable loan terms - combined with the benefit of SACE's guarantee, pursuant to the Liquidity Decree Law - give MeglioQuesto greater soundness and reliability, especially towards the banking world.
The loan agreements in question contain terms and conditions in line with such transactions (including financial covenants to be tested as of 31 December of each year concerning Net Financial Position / Ebitda and Net Financial Position / Equity ratios, pledge on a portion of shares, early repayment in the event of a change of control, further obligations to set or not to set covenants as usual for loans of this kind, etc.).
MeglioQuesto S.p.A.
Viale Francesco Restelli, 3/1 ● 20124 Milano ● www.meglioquesto.it
MeglioQuesto (1CALL:IM – ISIN IT0005450173) is a customer interaction company with a multi-channel offer aimed at top tier customers in the telco, multiutility, finance and insurance sectors. MeglioQuesto S.p.A. is a market leader, with its articulated multichannel offer based on customised solutions for the acquisition and management of relationships with end consumers. The Group operates along the following business lines: "Customer acquisition", with a focus on all services aimed at increasing and developing companies' customer base through activities designed for the acquisition of new end customers or through up-selling and cross-selling activities on already active users; "Customer management", with a focus on customer care services and, in particular, on all services relating to the management of relations between the company and end customers, including phone, sales and technical assistance services, file management and back office activities.
Identification codes
Ordinary shares: ISIN IT0005450173 (Ticker 1CALL) Warrants MeglioQuesto 2021-2025: ISIN IT0005450207 (Ticker W1CALL) Allotment rights of "Warrants MeglioQuesto 2021-2025" called "GeToCollect MeglioQuesto": ISIN IT0005450199 (Ticker GTCALL)
Press release available on www.meglioquesto.it and
For further information
ISSUER - MeglioQuesto T +390291430999 IR Manager, Felice Saladini: [email protected] Chief Communication Officer, Maurizio Guagnetti: [email protected]
EURONEXT GROWTH ADVISOR – illimity Bank T +39 02/82849699 [email protected]
IR ADVISOR – IR Top Consulting T +390245473884 Maria Antonietta Pireddu, [email protected], Domenico Gentile, [email protected]