Ferrari NV said July 31 that it has completed a private offering of €300 million of its senior notes issued in two tranches.
The Italian luxury-car maker offered €150 million of its 1.12% senior notes due 2029 and €150 million of its 1.27% senior notes due 2031.
Ferrari intends to use the net proceeds from the offering for general corporate purposes, including funding the capital expenditures it outlined in its 2018-2022 plan.
Following the offering and the previous tender offer to repurchase a portion of its outstanding bonds, Ferrari said its debt maturity profile is now more evenly distributed and has been significantly extended.
