(Alliance News) - Notorious Pircures Spa announced Friday that it has successfully completed the issuance of a EUR8 million nonconvertible bond issue.

The bond, maturing in October 2029, will be amortising, with payment of the first installment, including the principal amount, in April 2024. The bonds will bear interest at a fixed gross annual nominal rate of 6.06 percent, to be paid in semi-annual installments in arrears.

The company will use the resources from the bond to finance the group's growth programs in Italy, including, but not limited to, increasing the number of films acquired for distribution, increasing the number of films produced, and producing TV series with the aim of consolidating and enhancing its positioning within its target sector.

Notorious Pictures' stock closed Friday at parity at EUR1.22 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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