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Expert System Announces €5 million bond issue with 4% fixed annual interest rate, maturing in 2024

Modena July 31, 2015

Expert System (EXSY.MI), the leader in multilingual semantic intelligence technology for the effective management of unstructured information, announces that it has successfully issued a €5 million, 9-year bond bearing a 4% fixed rate of interest called “Expert System 4% Bonds 2015-2024” fully subscribed by Fondo Strategico Trentino Alto Adige.

Stefano Spaggiari, CEO, Expert System, commented: “Upon our listing on the stock market last year, we set our sights high. Therefore, we are very satisfied with this operation, which will allow us to capitalize on the work we’ve done thus far as we continue the process of consolidating our global leadership position with full commitment and determination. The proceeds will be used to boost our business in Europe, especially in light of our recent acquisition of TEMIS, and in America, where we will continue to gain market share by leveraging the unique features of Cogito for guaranteeing our customers the highest levels of innovation.”

The bond’s principal terms and conditions are as follows:

  • Amount: €5,000,000.00
  • Date issued: July 31, 2015
  • Maturation date: December 31, 2024, when 100% of the nominal value of the bond will be paid
  • Issue price: 100% of the nominal value of each bond
  • Interest rate: annual fixed rate of 4% with semi-annual payment starting from January 31, 2016
  • Bond structure: subject to a 4-year pre-amortization period
  • Financial advisor and Co-arranger: INTEGRAE SIM, KON S.p.A., Klecha & Co.
  • Legal advisor: Orrick, Herrington & Sutcliffe

The final version of the rules governing the bond will be made available to the public upon the date of issue on the company’s website in the Investor Relations section.