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.
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