Italeaf holders vote to amend TerniEnergia’s €25 million notes due 2019

By Susanna Moon

Chicago, Oct. 14 – Italeaf SpA said that holders approved amending the financial covenants of TerniEnergia SpA’s €25 million notes due 2019.

The meeting was held on Oct. 11.

Holders approved the share capital increase of TerniEnergia, according to a company notice.

From Feb. 6, 2016, in every semiannual and annual balance sheet

• Interest coverage ratio must be at or above 2 times;

• Net financial debt to EBITDA must be at or below 7 times;

• Net financial debt corporate to EBITDA must be at or below 4 times.

From Feb. 6, 2017, in every semiannual and annual balance sheet

• Interest coverage ratio must be at or above 2.25 times;

• Net financial debt to EBITDA must be at or below 6 times;

• Net financial debt corporate to EBITDA must be at or below 3.5 times.

From Feb. 6, 2018, in every semiannual and annual balance sheet

• Interest coverage ratio must be at or above 2.5 times;

• Net financial debt to EBITDA must be at or below 5 times;

• Net financial debt corporate to EBITDA must be at or below 3.25 times.

TerniEnergia, a company incorporated in September 2005 and part of Italeaf Group, operates in renewable energy sector and is active in the photovoltaic field. Italeaf is a holding company and a business accelerator for companies and startups in the areas of innovation and cleantech.

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