Piaggio Group: 200 million euro revolving line of credit agreed with pool of banks
Nov 15 2023
Pontedera, 15 November 2023 – Piaggio & C. S.p.A. (PIA.MI) has entered into an agreement with a pool of banks for a 200 million euro 4-year revolving line of credit, with an option for a one-year extension at the discretion of the company. The agreement has been signed with BNP Paribas-Banca Nazionale del Lavoro, Bank of America, HSBC, ING Bank, Intesa Sanpaolo and Unicredit (all acting as mandated lead arrangers and bookrunners).
The main purpose of the agreement is to extend the revolving credit facility for an equal amount granted by the same pool of banks that expires in January 2024, and raise the Piaggio Group’s debt profile by boosting its solid liquidity position, financial flexibility and residual average life.