Finmeccanica Re-negotiates Five-Year Revolving Credit Facility
Finmeccanica has renegotiated the five-year revolving credit Facility that 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 company announced today.
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.
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