Examples of ExtraMOT PRO in a sentence
Bonds can also be issued on ExtraMOT PRO, which is only accessible to professional investors.
The main features of ExtraMOT PRO minibonds are the following: • No minimum issue size • Average size of €25-30m • Maturity of 5-7 years • Fixed coupon or floating • Average yield of 6% p.a.13 • Rating non-mandatory (Bonds are generally unrated but a third are rated).
For example, in 2010 BondM market was launched in Germany and ORB in the UK, in 2012 IBO was launched in France, and in 2013 ExtraMOT PRO was launched in Italy and MARF in Spain.
ExtraMOT PRO allows companies to issue debt instruments and take the opportunity and the fiscal benefit of the new Italian regulatory framework.
This special type of listing on ExtraMOT PRO allows Italian companies, and in particular SMEs, to have access to institutional investors such as insurers or pension funds with a flexible approach, which is simpler and easier than on the regulated market.
The bond issue, called "TernEnergia 2019," amounts to Euro 25 million, five-year fixed rate equal to the gross 6.875% annual coupon, and is negotiated at ExtraMOT PRO, the professional segment of the bond market, managed by the Italian Stock Exchange.
The decision of the Italian Stock Exchange and the date of commencement of trading of the Notes on ExtraMOT PRO, together with the information required in relation to trading, shall be communicated by the Italian Stock Exchange by the issuance of a notice, pursuant to Section 11.6 of the guidelines contained in the Rules of ExtraMOT.
Therefore, investors other than Qualified Investors do not have access to ExtraMOT PRO with a consequent limitation of the possibility to sell the Notes.
The Notes will be listed and negotiated on ExtraMOT PRO and, as such, the Issuer will be entitled to pay the interest, premiums and similar proceeds on Notes due to qualified Noteholders without application of any withholding tax as per Legislative Decree no.
If the relevant party fails to respond within the required period, PhonepayPlus will proceed with the case on the assumption that it does not wish to respond.