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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Natuzzi S P A | NYSE:NTZ | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| -0.295 | -4.76% | 5.90 | 5.91 | 5.90 | 5.91 | 2,011 | 21:03:43 |
From May 2019 to May 2024
By Chris Wack
Natuzzi SpA said Friday it has renewed its accounts-receivables securitization facility with an affiliate of Intesa Sanpaolo SpA for an additional 5-year period.
The company said it originally entered into the securitization facility in July 2015, and the new facility allows it to assign trade receivables to Intesa Sanpaolo for a maximum amount of 40 million euros ($46.4 million) on a revolving basis and maintaining only a limited risk in the assigned trade receivable, in exchange for short-term credit.
Natuzzi said the facility continues to provide it with an important and stable source of liquidity. Notably, the company is entitled to assign a wider range of trade receivables, thus adding flexibility to its funding capacity.
Natuzzi Group shares were up 90%, to $2.20, in premarket trading.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
July 24, 2020 09:09 ET (13:09 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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