Other price-sensitive press releases

Fincantieri announces that it has agreed to extend the maturity date of a collateralized loan granted to VC Ship Four Ltd, a subsidiary of Virgin Cruises Intermediate Ltd., in connection with the delivery of a vessel in December 2023. The loan was originally due to be repaid by December 2025.

The extension constitutes a key element of a series of financial transactions concluded by the shipowner following the significant improvement in the group’s operating performance, which had initially been affected by the consequences of Covid19 pandemic.

Fincantieri has granted an extension of the final maturity to September 2030, in exchange for (i) an immediate payment which, together with the amortization instalments collected in 2024 and 2025, reduces the outstanding amount to €495 million, with  partial amortization for €120 million between 2027 and 2029, (ii) an enhancement of the security package backing the credit facility, and (iii) the adjustment to other terms and conditions of the loan, including the interest rate.

The extension of the maturity date entails the reclassification of the receivable from current to non-current. Nevertheless, the Company confirms its 2025 guidance regarding the Net debt/EBITDA ratio between 2.7x and 3.0x.