By Anthony O. Goriainoff

 

Directa Plus PLC said Monday that its Italian subsidiary, Directa Plus SpA, has qualified for 700,000 euros ($830,795) in loans under the Italian government's Covid-19 recovery plan.

Directa Plus, an Italy-based, U.K.-listed supplier of graphene-based products, said the funds will be available from Intesa Sanpaolo SpA in two tranches: an initial EUR500,000 loan and a further EUR200,000 leasing loan to fund the acquisition of new machinery for its production facility.

The loans are 80% to 90% guaranteed by the Italian government, and it is negotiating for an additional EUR500,000 loan with another Italian bank, the company said.

Directa Plus said it took advantage of the low-cost liquidity offered by the Italian government to accelerate its strategic program.

 

Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com

 

(END) Dow Jones Newswires

August 02, 2021 03:02 ET (07:02 GMT)

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