Italian eyewear maker Safilo SpA (SLF.MI) said Monday it has
signed two financing deals for a total of 100 million euros ($130.8
million).
The company, whose brands include Gucci and Hugo Boss, said it
has secured a new revolving credit facility for a total amount of
EUR60 million, maturing June 30, 2015, underwritten by Intesa
Sanpaolo, Unicredit and BNP Paribas and another revolving financing
for EUR40 million maturing June 30, 2015, underwritten by its main
shareholder Multibrands Italy B.V., a company controlled by HAL
Holding N.V.
These deals help support the group's ongoing
business-development needs and translate into a substantial
reduction of its average cost of debt.
Safilo, Italy's second-largest eyewear-products maker after
Luxottica SpA (LUX), reported a 12% increase in its first-quarter
net profit to EUR13.4 million, and a close to 3% rise in sales
reaching EUR297 million.
Its net debt dropped to EUR220 million at the end of March from
EUR243 million in the same period of last year.
Exchange website: www.borsaitaliana.it
Write to Enza Tedesco at enza.tedesco@dowjones.com
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