Tiscali 2008 Annual Report Download - page 93

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92
CONSOLIDATED FINANCIAL STATEMENTS AND EXPLANATORY NOTES
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 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 Financial
covenants (Debt
Service Cover Ratio,
Net debt/Adjusted
EBITDA and Adjusted
EBITDA/Net interest
Guarantees
On the assets and
on the shares of the
Group companies
which are also
guarantors
of the loan
Credit Facility EUR 50 million 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,
intercompany
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/Adjusted
EBITDA and Adjusted
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
December 2011 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
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 Financial
covenants (Debt
Service Cover Ratio,
Net debt/Adjusted
EBITDA and Adjusted
EBITDA/Net interest
On the assets and
on the shares of the
Group companies
which are also
guarantors of the
loan