Safilo Group confirms that it has refunded in advance 35% of the High Yield Bonds 95/8 which were due to expire in May 2013 and as previously announced during the IPO.
The Company has used the income deriving from the increase in capital for the IPO to repay part of the Senior Loan, and to significantly reduce the most costly part of its debt.
Safilo management also confirms that negotiations for the refinancing of the Senior Loan are under way and should be concluded within the first half of the year, with expectations of significant reductions in the cost of the company ‘s debt.
These transactions form part of the strategy to significantly reduce the Company’s debt in view of further important growth expectations.
 
“After having concluded with success the IPO process, Safilo Group, as previously announced, has used the increase in capital to reduce its debt and financial expenses.
With an improved capital structure – comments the Chief Executive Officer Roberto Vedovotto – Safilo Group is ready to address future challenges supported by the enthusiastic and positive reception of the latest collections presented to the market”.
 
Source : communiqué de presse Safilo

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