Tiscali 2007 Annual Report Download - page 96

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Loan
Senior Secured
Bridge Facility
Agreement
Amount and use
EUR 400 million to be
used for financing
the acquisition of
Pipex, the associated
costs and for the
repayment of Tiscali’s
debt and that of
certain of its
subsidiaries
Duration
13 September 2007-
13 September 2008.
Commitment to
re-finance, within
timescales
reasonably
achievable, via
market instruments
Possibility of
transformation into a
Term Loan/Exchange
Notes maturing on
13 September 2014
Financial backer
JP Morgan Chase
Bank N.A.
Intesa Sanpaolo
S.p.A. – London
Branch
Borrower
Tiscali UK Holdings
Ltd, wholly-owned
subsidiary of Tiscali
SpA
Obligatory early
repayment
In the event of
change of control
In the event of
extraordinary or
compensation
transactions
In the event
of notification
of unlawfulness
of contractual
obligations
Financial and non-
financial covenants
These include
limitations such as
the payments, asset
disposals,
intercompany
payables, the
payment
of dividends,
on the transfer
of assets (also
infraGroup) to the
payment of other
payables in
Guarantees
On the assets and
on the shares of the
Group companies
which are also
guarantors
of the loan
Credit Facility EUR 50 million
to be used for
repaying the debt
with Banca Intesa
Sanpaolo
13 September 2009 –
31 December 2011
Intesa Sanpaolo
S.p.A. – London
Branch
Tiscali UK Holdings
Ltd, wholly-owned
subsidiary of Tiscali
SpA
In the event
of change of control
In the event of
extraordinary or
compensation
transactions
In the event
of notification
of unlawfulness
of contractual
obligations
These include
limitations such as
the payments, asset
disposals, intercom-
pany payables, the
payment of
dividends, on the
transfer of assets
(also infraGroup) to
the payment of other
payables in
Financial covenants
(Debt Service Cover
Ratio, Net debt/EBIT-
DA and EBITDA/Net
interest
On the assets and
on the shares of the
Group companies
which are also
guarantors of the
loan
Revolving Credit
Facility
EUR 50 million to be
used for financing
the working capital
in Italy / UK
31 December 2011
(not yet disbursed
as of the date of the
Information
Prospectus)
JP Morgan Chase
Bank N.A.
Intesa Sanpaolo
S.p.A. – London
Branch
Tiscali UK Holdings
Ltd, wholly-owned
subsidiary of Tiscali
SpA
In the event
of change of control
In the event of
extraordinary or
compensation
transactions
In the event
of notification
of unlawfulness
of contractual
obligations
These include limita-
tions such as the
payments, asset
disposals, intercom-
pany payables, the
payment of divi-
dends, on the tran-
sfer of assets (also
infraGroup) to the
payment of other
payables in
Financial covenants
(Debt Service Cover
Ratio, Net debt/EBIT-
DA and EBITDA/Net
interest
On the assets and
on the shares of the
Group companies
which are also
guarantors
of the loan
CONSOLIDATED FINANCIAL STATEMENTS AND EXPLANATORY NOTES AT 31 DECEMBER 2007
95