Leonardo signs new credit facilities to strengthen liquidity
Leonardo confirmed on 6 May that it has agreed a new €2 billion ($2.15 billion) credit facility from a number of international banks with the aim of strengthening liquidity and supporting its financial flexibility.
These credit facilities, along with existing credit lines provide a total liquidity value for the company of more than €5 billion and have a maturity of up to 24 months. There are no financial covenants.
Alessandro Profumo, CEO of Leonardo, said: ‘The new credit facilities represent further confirmation of Leonardo’s commitment to pursuing a disciplined financial strategy even in an exceptional period.’
He continued that: ‘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 banking pool includes: Banca IMI, Banco BPM, BNP Paribas, Credit Agricole CIB, HSBC, NatWest, Société Générale and UniCredit.
More from Defence Notes
-
![What role could holographic and 3D capabilities play in the warfare of tomorrow]()
What role could holographic and 3D capabilities play in the warfare of tomorrow
Holographic and 3D technologies have been lauded by some for their ability to provide technical and operational advantages for military training and planning. But is the hype truly justified?
-
![Unfolding the Golden Dome for America: Seven things you should know about the programme]()
Unfolding the Golden Dome for America: Seven things you should know about the programme
Shephard talked to multiple experts about the most pressing concerns and considerations regarding the air defence system advocated by President Trump.
-
![Industry welcomes UK Strategic Defence Review, but pressure remains on future defence investment plans]()
Industry welcomes UK Strategic Defence Review, but pressure remains on future defence investment plans
While industry reception to the SDR has been positive, questions still remain from analyst and trade associations about what this could mean for future investment and the future UK Defence Industrial Strategy.
-
![UK Strategic Defence Review puts emphasis on autonomy, airpower and munitions]()
UK Strategic Defence Review puts emphasis on autonomy, airpower and munitions
The UK’s Strategic Defence Review (SDR) was launched as one of the first acts of the UK’s new Labour Government in June last year. The review has recommended a major big-picture reform of the country’s forces.
-
![Foreshadowing of UK defence review suggests it is light on programme details]()
Foreshadowing of UK defence review suggests it is light on programme details
The UK’s Strategic Defence Review (SDR) was designed to answer two questions: What is needed to fix UK defence and make it fit for the 2040s, and what do you get for a fixed financial profile? The SDR outlines that work still needs to be done on specifics.
