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Pirelli Debt Refinancing Reported

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Rome based newspaper Il Messaggero reports that Pirelli & C. SpA is negotiating a 1.2 billion euro loan in order to refinance its debt. Although Pirelli has yet to comment on this news, Il Messaggero says the tyre maker has hired Banca IMI SpA, BNP Paribas SA, UniCredit SpA, Royal Bank of Scotland Group Plc, Bank of America Merrill Lynch and Societe Generale SA to arrange the debt. This deal is, the paper adds, expected to be completed within a few weeks.

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