Nexans: obtains State-guaranteed loan
(CercleFinance.com) - Nexans has announced signing a 280 million euro loan, 80% of which is guaranteed by the French State, with a pool of French banks, maturing in twelve months, with Nexans having the option to extend it up to five years.
At 31 March, its liquidity position was around 1 billion euros, including an undrawn revolving credit line of 600 million euros, of which 200 million euros was drawn at the beginning of April in order to repay maturing commercial paper.
With the new financing now secured, the cable manufacturer says that it has sufficient liquidity to continue its business and meet its financial commitments without repaying any debt before 2021.
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