July 6, 2017 / 7:28 PM / a month ago

BRIEF-Pirelli refinances credit lines for 4.2 bln euros

July 6 (Reuters) - Pirelli says:

* successfully concludes refinancing of banking lines for 4.2 billion euro

* Marco Polo subscribes to capital increase for 1.2 billion euro aimed at debt reduction

* funds from capital increase used to reimburse for same amount part of pirelli’s debt, to reduce net debt/ebitda ratio to around 3 times

* shareholders decided to convert all special shares ordinary shares and to annul all treasury shares (Reporting by Milan newsroom)

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