Deoleo announced this Thursday that the placement of 4,000 bonds for a total of four million euros has been completed 100%, an issue exclusively aimed at its shareholders to face the litigation it maintains in Italy.
According to the communication sent to the National Securities Market Commission (CNMV), the securities have been fully subscribed and paid by 99 bondholders.
The essential purpose of this operation is to cover the payments that the group's Italian subsidiary, Carapelli Firenze S.p.A., will have to assume after an unfavorable ruling by the Italian second-instance court linked to a claim by the customs inspection initiated in 2014 by the Italian Customs Office against the company.
Each of the issued bonds has a nominal value of 1,000 euros and generates an annual interest of 20%. These are subordinated bonds, which rank behind ordinary creditors and ahead of share capital, and which will not be admitted to trading on any official secondary market.
The reference shareholders of the manufacturer of Hojiblanca and Carbonell, CVC Capital Partners and Alchemy, undertook to ensure the availability of the necessary funds to comply with the obligations arising from this judicial proceeding.
Deoleo recently detailed that the funds raised will be used to pay the installment payments that Carapelli Firenze must make in the next ten months, as well as other disbursements related to this case.