Carraro to redeem early €180 million notes due 2025 via new notes

By Marisa Wong

Los Angeles, Oct. 16 – Carraro Finance SA plans to redeem its €180 million of senior unrated and non-convertible notes due January 2025, according to a press release.

The company plans to complete the early redemption by Dec. 31.

The redemption will be funded with proceeds from a new note issuance and cash reserves.

The company announced plans to issue up to €120 million of senior unrated and non-convertible notes to be guaranteed by Carraro SpA.

Carraro makes power transmission systems primarily for agricultural machinery. The Campodarsego, Padua, Italy-based company has production plants in India, Argentina, China, South Africa and Brazil.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.