14/05/2021 - Marfin Investment Group SA Holdings: ANNOUNCEMENT - COMPLETION OF DEBT RESTRUCTURING

14/05/2021

ANNOUNCEMENT

COMPLETION OF DEBT RESTRUCTURING

Further to its Announcements dated 30.11.2020 and 29.4.2021 "Marfin Investment Group Holdings S.A." ("MIG") hereby announces that the restructuring of its entire banking debt has been completed by execution of the relevant agreements. The period of repayment of the entire debt has been extended by 3 years with the right for further extension by 1 additional year at the absolute discretion of the Bank, with no intermediary repayments. The total outstanding debt has become long-term as the capital of the debt is to be repaid at the expiry date of the loan agreements. The average nominal interest rate will amount to 1.5% against 4.62% in 2020, which corresponds to the amount of €6.8 m. (the major part of which may be capitalized), by reducing the financial cost by c. €17 m. p.a. In particular, in the context of the implementation of the Restructuring Agreement following has been agreed:

1. Issuance of a new Common Bond Loan amounting initially to €281 m.
2. Amendment of the terms of the existing Convertible Bond Loan whose balance currently stands at €160 m.

In security of the Lender's claims arising from the above Bond Loans, a pledge of 1st and 2nd ranks is being established over the shares (directly and indirectly) owned by MIG issued by its subsidiary "Attica Holdings S.A.".

The agreement improves significantly the financial structure of the Company as well as its future cash flows related to the service of its debt.