Officine Maccaferri sets bondholder meeting to vote on proposed plan

By Sarah Lizee

Olympia, Wash., March 9 – Officine Maccaferri SpA is inviting holders of its 5¾% senior notes due 2021 (ISINs: XS1074643013, XS1074596344) to attend a bondholder meeting at 5 a.m. ET on March 28 to vote on a proposed concordato plan.

On Oct. 5, the Court of Bologna admitted the company to a composition with creditors procedure (concordato preventivo), nominating a delegating judge and confirming two judicial commissioners.

A meeting of creditors to vote on the proposal of the concordato plan was convened for April 6.

In light of the upcoming creditor meeting, the company said it was necessary to convene the bondholders’ meeting so bondholders could vote on the proposal.

A common representative of the bondholders will be delegated by holders and will then cast a vote in favor of or against the proposal during the April 6 meeting or within 20 days of the meeting.

The proposal will be approved if votes in favor are obtained for over 50% of the nominal amount of the credits admitted to vote at the creditor meeting and, if the proposal provides for division into classes, from the majority of the classes of creditors admitted to vote.

The information and tabulation agent is Morrow Sodali (+39 0645 212844, + 44 20 4513 6933, 203 609-4910; maccaferri@investor.morrowsodali.com).

Officine Maccaferri is a Bologna, Italy-based building products company.

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