Ferrari N.V. taps the US Private Placements market with a EUR 300 million offering in two tranches of 10 and 12 year maturiti...

Date : 07/31/2019 @ 8:47PM
Source : GlobeNewswire Inc.
Stock : Ferrari NV (RACE)
Quote : 165.23  0.0 (0.00%) @ 9:04AM

Ferrari N.V. taps the US Private Placements market with a EUR 300 million offering in two tranches of 10 and 12 year maturiti...

Ferrari NV (NYSE:RACE)
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Ferrari N.V. (NYSE/MTA: RACE) today announced that it has completed a private placement to certain US institutional investors of EUR 150,000,000 aggregate principal amount of 1.12% senior notes due 2029 and EUR 150,000,000 aggregate principal amount of 1.27% senior notes due 2031.

The net proceeds from the offering will be used towards general corporate purposes, including funding the capital expenditures contemplated in the current 2018-2022 plan.

As a result of this offering and the tender offer to repurchase a portion of Ferrari’s outstanding bonds, the results of which were announced on July 12, 2019, Ferrari’s debt maturity profile is now more evenly distributed and has been significantly extended.

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