(Alliance News) - Generalfinance Spa announced Monday that it has finalized an increase in the amount of the medium-long term revolving loan agreement entered into with some Italian banks - RCF line - to EUR173 million from the previous EUR133 million.

"The financing transaction - consistent with Generalfinance's characteristic activity of providing financing through the technical form of factoring in favor of distressed companies, engaged in turnaround plans and business crisis settlement - is part of a path of diversification of funding sources; in addition to the RCF loan, Generalfinance in fact has a revolving securitization program in addition to credit lines granted by leading factoring partner companies, including, most recently, SACE Factoring," the company explained in a note.

Generalfinance on Monday closed 0.6 percent in the red at EUR7.95 per share.

By Claudia Cavaliere, Alliance News reporter

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