Juventus Football Club announces that it has signed a loan contract with the Istituto per il Credito Sportivo for a sum of € 50 million for the duration of 12 years, in addition to a pre-amortisation period of maximum 3 years, destined entirely to finance the work for the construction of the new Stadium.
In the pre-amortisation period, the loan envisages the payment of six-monthly interest calculated at the Euribor 6 month rate, plus 200 bp. The repayment of the loan will be made in 24 six-monthly equal instalments, calculated at a fixed rate corresponding to IRS 6 years (which will be defined at the time the financing is fully received by Juventus) plus 220 bp. In addition, the loan will benefit from a contribution to interest as permitted by the regulations in force.
Against the financing granted, Juventus will provide the Istituto per il Credito Sportivo with appropriate guarantees (mortgage on the stadium building and pledges on future receipts from season and ticket sales), and will cede part of the receivables due from the Sportfive contract concerning the naming of the new Stadium and other minor commercial rights.
The loan contract with the Istituto per il Credito Sportivo makes it possible to complete the coverage of the financing needs for the construction of the new Stadium. The remaining part of the investment (for a total of € 105 million) will be covered through the advance receipts envisaged by the Sportfive contract and the revenues deriving from the sale of the adjacent commercial areas to Nordiconad Soc. Coop..
Juventus.com
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