"New Sabatini" beneficial-rate loan contract stipulated for 1.9M€ with Banco Popolare Soc. Coop. to be used for investments in instrumental assets at the Milan Data Centre
29 July 2016Price sensitive | Press releases
Retelit S.p.A. reports that it has stipulated a beneficial-rate loan contract, through its subsidiary e-via S.p.A., pursuant to Ministerial Decree 27 November 2013 (“New Sabatini”) for 1.89 million euros, with Banco Popolare Soc. Coop. This loan replaces the pre-loan stipulated with the same institute.
The loan, which envisages contractual terms, conditions and commitments that are basically standard for the bank credit market, will have a total duration of 60 months; it is intended for investments in instrumental assets connected with the Milan data centre.
The loan is on funding from Cassa Depositi e Prestiti S.p.A. (“CDP”) and the contribution of the Ministry for Economic Development (“MED”). and envisages the concession of benefits with a contribution on interest account of 2.75%, which is currently higher than the rate payable on the loan in question.