Pro-Gest issues euro 250 million bond following european road show

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Bruno Zago (Chief Executive Officer) : « Demand above our expectations, the Group’s results and our growth plans are appreciated by investors »

Ospedaletto d’Istrana (TV), December 8th, 2017 – The Pro-Gest Group – leader in Italy in the production of paper, cardboard and packaging – has concluded a European road show with stops in Milan, London and Paris, which brought the issuance of a € 250 million bond with 7 years duration.

The loan was placed entirely, within a few days, with leading Italian and international professional investors. Demand – which exceeded € 550 million – allowed Pro-Gest to obtain a fixed rate of 3.25%, without the need for collaterals.

The bond issue is aimed at gathering useful resources to carry on the Group’s ambitious expansion project.

“Investors – said Bruno Zago, CEO of the Pro-Gest Group – have shown great appreciation for the Group’s results and development expectations, with particular regard to Cartiera di Mantova’s start-up. This type of financing, aimed mostly at capital expenditures for our core business, will serve to strengthen our leading position in the internal market and to accelerate the growth path to become effectively an international player. »

The transaction involved several international operators and led the Group to obtain official credit ratings from the international rating agencies Standard & Poor’s and Moody’s.

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