Oct 30, 2014. /Lesprom Network/. Sonae Indústria, SGPS, S.A. has signed the final refinancing agreements with its two main creditor banks (representing the majority of Sonae Indústria’s consolidated gross debt), as the company said in the press release received by Lesprom Network.

In this way, Sonae Indústria will achieve refinancing of between Euro 300 and Euro 325 million of debt (depending on the level of subscription for the planned capital increase, as announced on 7 May 2014) under significantly improved conditions, not only in terms of maturity profile (6 to 8 years final maturities, with a minimum 3 years grace period for principal repayments), but also in terms of cost of debt.

In addition, Sonae Indústria has also signed an agreement to extend its trade receivables securitisation facility, with a maximum amount of Euro 85 million, until September 30, 2016.

The execution of the above agreements is subject to the completion of the envisaged capital increase in an amount not less than Euro 75 million. In this respect, it should be noted that Sonae Indústria’s majority shareholder, Efanor Investimentos, SGPS, S.A., has committed to subscribe, directly or indirectly, a minimum of Euro 75 million in the planned capital increase.