More on: Astaldi receives revised non-binding offer with non-binding LOIs

All,

Further to our email this morning:

1) The Astaldi "Bridge Financing” provided by banks includes the Fortress facility - the E75m drawn and the E125m undrawn. That was apparently necessary ahead of the deadline yesterday to allow for the extension. It seems a solid statement of commitment that banks take on that risk now, given they did not at the beginning of the process. It also likely means lower coupons for Astaldi going forward.

2) The remaining E384m are a new super sr. bonding line to cover guarantees necessary to effectuate the restructuring.

3) The E200m line to be provided to Salini is for the purpose of supporting Astaldi with cash between now and the implementation of the restructuring.

4) The deal (naturally) includes an extension of maturities for Salini itself given how dire their own finances are.

5) Astaldi shareholders have no preferential rights to sign the new shares.

6) The missing E200m in the credit split this morning were a cash credit line to Salini following the implementation of the restructuring.

Wolfgang