(Alliance News) - Clabo Spa on Friday announced that it has signed a loan agreement for EUR3.3 million with Banca Progetto Spa.

The loan has a term of 96 months and provides for 12 months of pre-amortization during which only interest payments will be made. The transaction is backed by a guarantee issued by SACE under the "Supportitalia" program.

The rate governing the loan is equal to the 3-month Euribor plus a spread of 525 bps.

The funds obtained are intended to finance an articulated plan of investment in R&D for projects related to green transition (F-Gas) and the renewal of the parent company's product range, some of which, moreover, have already been carried out during 2023.

Clabo is in the red by 0.5 percent at EUR2.16 per share.

By Claudia Cavaliere, Alliance News reporter

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