(Alliance News) - Monrif Spa announced Wednesday that after updating its business plan with advisors Eidors Partners Srl, it has signed a new maneuver with the group's creditor banks.

The pool of banks consisting of Intesa Sanpaolo Spa, Banco BPM Spa, UniCredit Spa, Banca Monte dei Paschi di Siena Spa, BPER Banca Spa, AMCO and Cassa di Ravenna agreed to update the financial parameters and the dates of their recognition.

In addition, the company pledges to procure, in the event of data that are far from the plan targets, adequate cash injections to restore the leverage levels under the plan. In addition, credit lines maturing in 2024 have been extended through 2027.

Finally, the amortization schedules of some medium- and long-term loans were rescheduled and a new EUR3.6 million credit line was granted for the development of the hotel business.

Monrif's stock is up 0.5 percent to EUR0.04 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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