January 15, 2013 / 11:20 AM / 5 years ago

Italy's Sogefi wins loans for 215 mln euros

MILAN, Jan 15 (Reuters) - Italian car components maker Sogefi said on Tuesday it had signed two medium-long term loan agreements for a total of 215 million euros ($287 million) to help fund international expansion.

Sogefi, controlled by the CIR holding company of the Italian De Benedetti family, said in a statement the first loan is a five-year credit facility worth 200 million euros, while the second facility has a four-year maturity.

The operation, which will also refinance debt due in 2013, will “ensure funding for the development of the Sogefi group in the medium term, particularly in higher growth emerging markets”, it said.

After the announcement Sogefi shares were up more than 1.3 percent. ($1 = 0.7482 euros) (Reporting By Danilo Masoni; editing by Stephen Jewkes)

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