(Alliance News) - Iervolino & Lady Bacardi Entertainment Spa announces Wednesday that it has received notice from Intesa Sanpaolo Spa of the confirmatory resolution to the request to amend the covenants of the 2020-2027 basket bond of original EUR8.0 million.

In detail, the new ratios are for a NFP/EBIT ratio of less than 0.50 for 2023, 0.45 for the following years; Ebit/interest greater than 1.5 for 2023, 2.5 for the following years; NFP/EBIT less than 6.5 for 2023, 3.5 for the following years.

The company also reports that talks are continuing with UniCredit Spa and CDP to similarly redefine the covenants related to their 2021-2028 bond issue of original EUR10.0 million.

ILBE closed Wednesday in the green by 0.90 percent at EUR0.90 per share.

By Chiara Bruschi, Alliance News reporter

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