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Ferrari completes US private placement of €300M notes in 2 tranches

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.