Intercompany loan

In November 2009, in implementation of the resolution of the Board of Directors of May 15, 2009, and in order to give TELAT the financial resources needed for the repayment of its own share capital – as approved by the shareholders of this subsidiary in their extraordinary meeting of May 28, 2009, so as to optimise its financial structure, in the amount of €600 million, which was repaid in November – Terna granted a loan of €500 million.
The financing is in the form of a 5-year interest-bearing loan to be repaid in semi-annual instalments, with an interest rate equal to 6-month Euribor plus a spread of 2.50%.