(Alliance News) - Eukedos Spa announced on Wednesday that its subsidiary Edos Srl has finalized a EUR16.9 million mortgage loan aimed at supporting the group's investment plan aimed at the expansion of beds and concerns the construction of 3 nursing homes for the elderly for a total of 320 beds located: in Vernate in the province of Milan for 90 beds, in Cornaredo also in Milan for 110 beds and in Ghisalba in the province of Bergamo for 120 beds, structured as a land loan, at the state of progress, with maturity on June 30, 2035.

The loan will be provided by a syndicate of Italian lenders consisting of Banco di Sardegna Spa, Chiantibanca, Banca di Credito Cooperativo dell'Oglio and BCC Banca Iccrea; the latter will also act as arranger and lead manager of the syndicate as part of the transaction.

The full amount of the loan will be disbursed in one or more instalments, as work progresses, to the extent that it may not exceed 70% of the pro-tempore costs incurred and will have a total term of about 12 years and a rate equal to 6-month Euribor plus a margin of 3.1% per annum.

Eukedos and La Villa Spa, which are jointly and severally obligated, have issued in favor of the BCC Iccrea Group sureties guaranteeing the exact fulfillment of all obligations undertaken by the subsidiary Edos Srl in dependence of the loan up to the maximum amount of EUR33.8 million.

Eukedos on Wednesday closed 7.1 percent in the red at EUR1.05 per share.

By Claudia Cavaliere, Alliance News reporter

Comments and questions to redazione@alliancenews.com

Copyright 2023 Alliance News IS Italian Service Ltd. All rights reserved.