Avio SpA, the leading aerospace company in Italy, announced today that it has signed a financing agreement with the European Investment Bank (EIB) with a 40 Million Euro Financing Agreement.
With this funding, Avio SpA will support, on the one hand, the development of new products and technologies in space propulsion systems through research and development activities, on the other hand, the modernization and expansion of production capacity at the Colleferro factory, the main Italian industrial site of Avio SpA.
The funding is part of a joint initiative of the EIB, Ministry of Economic Development and Ministry of Economy to support investment in innovation ("Italian risk sharing initiative", intended to finance projects in research, development and innovation promoted by small and medium-sized enterprises).
It is also known that Avio SpA repaid through the use of own funds the principal amount of the Term Loan A tranche of the "Senior Term and Revolving Facilities Agreement" concluded on 1 April 2015 of approximately Euro 30 million , thus completing the repayment of the entire pre-existing loan.