Pro-Gest finalises waivers for breach of covenants, start up of Mantua RCCM mill key to group's financials

摘要

At the end of February, Italian paper and pa-ckaging company Pro-Gest reached an agree-ment with bondholders and lenders that will allow to change certain terms and conditions of the Pro-Gest 5.25 per cent 2016-2023 bond due in May 2023.The company also obtained consent to the waiver request in relation with the financi-al covenants under the bond at the calculation dates of 31 December 2019 and 30 June 2020. A similar agreement and waiver consent was also reached and obtained for the firm's subsidi-ary Cartiere Villa Lagarina. This applies to the Car-tiere Villa Lagarina 2016-2023 bond with a 4.25 per cent coupon and due in May 2023. The two bonds have a maximum volume of €61 m.