FINMECCANICA: RENEGOTIATED THE FIVE-YEAR REVOLVING CREDIT FACILITY

FINMECCANICA: RENEGOTIATED THE FIVE-YEAR REVOLVING CREDIT FACILITY

Finmeccanica: renegotiated the five-year revolving credit facility
 
 
 
- in order to benefit from the strengthening of the Group industrial fundamentals and the favourable market conditions
- with a significant reduction of the margins and positive effects expected on the financial charges
Rome, 6 July 2015 – Finmeccanica signed today the renegotiation of the current revolving credit facility. The renegotiation envisages the payment of a spread of 100bp above Euribor, 80bp less than the previous conditions. The size was also reduced to 2 billion euro, compared to the former 2.2 billion, and the duration extended till July 2020, when there aren’t other repayment duties on the capital market. The credit line is entirely undrawn both at 31 December 2014 and at 30 June 2015.
 
In line with the Group financial strategy, the renegotiation will bring savings on financial charges over the next 5 years and confirms the gradual decrease of the working capital financing needs, coherently with the objectives of the Group Industrial Plan. The credit line will continue to assure for the next five years a banking liquidity source in line with financial market expectations, including rating agencies.
 
Within the pool, the banks that signed the renegotiation are: 
- Mandated Lead Arrangers and Bookrunners: BNP Paribas - BNL, Commerzbank Aktiengesellschaft - Filiale di Milano, Crédit Agricole Corporate and Investment Bank, HSBC Bank plc - Milan Branch, Intesa Sanpaolo S.p.A., Société Générale - Milan Branch, The Bank of Tokyo-Mitsubishi UFJ ltd – Milan Branch, Unicredit S.p.A.
- Lead Arrangers: Banca Popolare di Milano Soc. Coop. a r.l., Banco Bilbao Vizcaya Argentaria S.A. – Milan Branch, Banco Santander S.A. – Milan Branch, Bank of America N.A. – Milan Branch, Citibank N.A. – Milan Branch, Sumitomo Mitsui Banking Corporation Europe Limited – Milan Branch, The Royal Bank of Scotland Plc – Milan Branch
- Co-Arrangers: Banca Popolare Emilia Romagna Soc. Coop, Banca Popolare di Sondrio ScpA., Banco Popolare Scarl, Bank of China Ltd – Milan Branch, Barclays Bank Plc – Milan Branch, Crédit Industriel et Commercial, Jp Morgan Chase Bank N.A. – Milan Branch, Natixis S.A. – Milan Branch, Unione di Banche Italiane società cooperativa per azioni
Unicredit assumed the role of Global Coordinatoor, Coordinating and Documentation Bank and of Agent Bank.
 
Rome 06/07/2015 16:00

Roma 06/07/2015 12:48