Ferrari N.V. taps the US Private Placements market with a EUR 300 million offering in two tranches of 10 and 12 year maturiti...
July 31 2019 - 4:47PM
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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