SEIF S.p.A : SEIF: Signed a loan agreement for Euro 2,500,000 in order to finance the pursuit of the Company’s industrial development project. (AcT)

PRESS RELEASE

SOCIETÀ EDITORIALE IL FATTO S.P.A.:

SEIF: Signed a loan agreement for Euro 2,500,000 in order to finance the pursuit of the Company's industrial development project.

Rome, 11 June 2020 – Società Editoriale Il Fatto S.p.A. hereby enounces that today it has signed a loan agreement with Unicredit S.p.A. for a total amount of Euro 2,500,000 and aimed at supporting the Company's industrial development project.

The loan agreement provides for a repayment in 60 months with a 12-month grace period, with a variable rate, in line with the best market conditions. The loan is backed by a guarantee from Cassa Depositi e Prestiti for 90% of the amount. As usual in this type of transaction, the Company has also subscribed an interest rate cap under which it will periodically receive an amount of interest equal to the difference (if positive) between Euribor and the cap rate.

Luigi Calicchia, CFO of SEIF, commented: "The transaction with Unicredit S.p.A. should be considered as a bridge loan needed to support the current investment programme, which is already included in the company's business plan. Given the positive trends recorded in 2020 in terms of volumes and revenues, also due to the investments made in the last 18 months, it is considered important to continue implementing the development plan by providing the Company with adequate financial resources".

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SOCIETA' EDITORIALE IL FATTO S.P.A. (SEIF) is an independent media company, founded in Rome in 2009 and led by Cinzia Monteverdi, Chairman and CEO. The company publishes several editorial and multimedia products, including Il Fatto Quotidiano, founded by Antonio Padellaro and directed by Marco Travaglio, the website ilfattoquotidiano.it and the monthly magazine FQ Millennium, directed by Peter Gomez, the publishing company Paper First and the TV and multimedia content platform Loft. Recently, SEIF has undertaken a process of diversification to become more and more a media content provider at 360° degrees, starting a strategy of development of its products in digital key and data driven.

Source : Actusnews