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27 Jun 2014

Prysmian, € 1,000 million financing successfully closed

Milan, 27 June 2014. Prysmian SpA, world leader in the energy and telecom cable systems industry, has signed today a Euro 1,000 million long term revolving credit facility with a pool of primary domestic and international banks. The agreement’s maturity date is 27 June 2019 and it will be utilized for general corporate purposes and working capital requirements, including the refinancing of existing debt facilities.

“This important credit facility allows the Group to improve its financial structure by extending the average maturity of the financing sources and by assuring more financial flexibility. Furthermore, the continuous financial deleverage of the past years together with our proven cash generation capability, are the founding pillars of the Group’s financial solidity and create the conditions to carry on our growth strategy and at the same time face the challenges coming from the markets”, explains Pier Francesco Facchini, Chief Financial Officer.

“We are happy with the participation of the main relationship banks we work with. The strong interest received enabled the achievement of such an important facility size at a cost even more competitive than the existing facilities”, explains Giovanni Zancan, Prysmian Group Finance Director. During the month of June, a limited number of relationship banks joined the 6 bookrunners, Banca IMI, BNP Paribas, Citigroup, Crédit Agricole, ING Bank and UniCredit Bank. ING Bank acted also as Global Coordinator and Documentation Agent, UniCredit Bank as Facility Agent and BNP Paribas as Issuing Bank in case of non-cash utilization.

 

Prysmian Group
Prysmian Group is world leader in the energy and telecom cables and systems industry. With more than 130 years of experience, sales of €7 billion in 2013, about 19,000 employees across 50 countries and 91 plants, the Group is strongly positioned in high-tech markets and offers the widest range of products, services, technologies and know-how. In the Energy sector, Prysmian Group operates in the business of underground and submarine power transmission cables and systems, special cables for applications in many different industrial sectors and medium and low voltage cables for the construction and infrastructure industry. In the Telecom sector, the Group manufactures cables and accessories for the voice, video and data transmission industry, offering a complete range of optical fibres, optical and copper cables and connectivity systems. Prysmian is a public company, listed on the Milan Stock Exchange in the FTSE MIB index.

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