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        GVS refunds the original loan of 90 million Euros in advance

        GVS refunds the original loan

        The Group will refund the residual amount of the loan stipulated in 2017 by 21 October 2020

        GVS will proceed to refund in advance, by 21 October 2020, the entire residual amount, equal to 58.5 million Euros plus interest, of the loan stipulated with Mediobanca - Banca di Credito Finanziario SpA, Banca Nazionale del Lavoro SpA and Unicredit SpA on 27 July 2017, subsequently amended on 15 May 2018 and 29 July 2019, for an original amount equal to 90 milion Euros and original maturity on 26 July 2024.

        The Group will carry on the early repayment of the loan through its own means, making use of available liquidity. The refund will allow GVS, without any significant impact on the net financial position or on the sources of support for the Company's activities, to optimize the Group's financial structure by reducing the average annual cost of debt in the medium / long term.

        Finally, GVS has started negotiations with the same credit institutions for new bilateral loans for a total amount of 40 million Euros.