Published June 20, 2022 by Michael Le Pard , Editor‑in‑Chief
Piaggio Group: agreement with banks to extend and increase revolving line of credit to 200 million euro
Pontedera, 20 June 2022 – Piaggio & C. S.p.A. (PIA.MI) has entered into an agreement with a pool of core banks to extend and increase a 187.5 million euro revolving credit facility signed in 2018. The facility has been increased to 200 million euro with the participation of Bank of America Merrill Lynch, Banca Nazionale del Lavoro, HSBC, Intesa Sanpaolo, ING Bank and Unicredit.
The main purpose of the agreement is to extend the revolving credit facility expiring in July 2022 by two and a half years and improve the quality of the Piaggio Group’s debt profile by expanding its financial flexibility and residual average life.
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