Leonardo signed new credit facilities to strengthen the Group’s liquidity
For EUR 2 billion
Leonardo signed yesterday new credit facilities with a pool of international banks for € 2 billion. These facilities, together with cash in hand and existing credit lines, result in a total liquidity for the company of over € 5 billion.
Alessandro Profumo, CEO of the industry, commented: “The new credit facilities represent further confirmation of Leonardo's commitment to pursuing a disciplined financial strategy even in an exceptional period. Through this, we are further strengthening the Group's liquidity and providing additional financial flexibility in the changed economic environment caused by the COVID-19 pandemic”.
The credit facilities have a maturity of up to 24 months and have no financial covenants.
The facilities were oversubscribed, confirming the strength of Leonardo’s credit profile in the financial markets. The banking pool is composed of the following banks:
Mandated Lead Arrangers and Bookrunners: Banca IMI (Intesa Sanpaolo Group), BNP Paribas, Crédit Agricole CIB, UniCredit
Lead Arranger: Banco BPM
Co-Arrangers: UBI Banca, HSBC, NatWest, Société Générale
Crédit Agricole CIB and UniCredit assumed the roles of Coordinator and Documentation Bank. Banca IMI (Intesa Sanpaolo Group) and BNL Gruppo BNP Paribas will assume the roles of Agent Bank.
Linklaters and Clifford Chance acted as legal advisors respectively to the Banks and to Leonardo.
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