A meeting of the shareholders of Riva Fire, the holding company of Italy-based steelmaker Riva Group, has decided in favor of issuing €500 million in bonds with the goal of increasing the finance available to the steel producing group, as reported by local financial newspaper Milano Finanza.
The operation would be needed "to face financial needs of the company, taking into account the current debt load and composition," as stated in the report. Riva Fire will issue 500,000 bonds with a maturity date of December 30, 2016, and with a face value of €1,000 each.