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
-
Turning the Hiroshima Accord into Action: Enhancing UK-Japan Defence Collaboration (Studio)
The UK-Japan strategic partnership leverages joint defence initiatives, advanced technologies, and SME integration to enhance military capabilities, foster innovation, and ensure regional and global stability through collective action and effective project management.
-
NATO countries outline strategies to accelerate defence industrial production
During the Washington Summit, member states also agreed to improve manufacturing capacities across the alliance and continue investing in joint projects with Ukraine.
-
Why the US military needs an “innovation intervention”
Several issues in the Pentagon’s structure and the defence industrial base have been hampering the country's efforts to produce cutting-edge solutions.