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Safilo Group S.p.A.: the Restructuring Agreement which modifies the Senior Loan Agreement underwritten on June, 26 2006 has been subscribed

Padua, 5th February 2010 – Safilo S.p.A. and Safilo USA Inc., subsidiaries of Safilo Group S.p.A., have today subscribed a Restructuring Agreement as a result of which some changes will be made to the Senior Loan Agreement signed on June 26, 2006 with a pool of banks coordinated by Banca IMI, Intesa Sanpaolo and UniCredit, with UniCredit Bank AG acting as Agent of the financing, pursuant to which the banks made available to Safilo S.p.A. and Safilo USA Inc. a medium/long-term loan totalling 400,000,000 Euro. Such changes are on the whole more favourable for the Safilo Group, and form part of the ongoing process of strengthening the Group’s capital structure. Moreover, following the Restructuring Agreement, the total amount of the Senior Loan will decrease from the present, approximately 324,000,000 Euro to 300,000,00 Euro.
The validity of the Restructuring Agreement is conditioned, inter alia, under penalty of suspension, on the actual subscription and settlement by HAL Holding N.V. (or one of its subsidiaries) of the capital increases as part of the overall recapitalization transaction aiming at strengthening Safilo Group S.p.A. and Safilo Group capital and financial structure (the reserved capital increase today subscribed and paid in by Multibrands Italy B.V., a subsidiary of HAL Holding N.V., has been separately communicated to the market).

Last update: 05/02/2010, 15:22

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