Pirelli: signs 800 million euro loan with pool of banks
(CercleFinance.com) - Pirelli has raised 800 million euros through a loan from a group of Italian and international banks, the latest fundraising by the tyre manufacturer to optimise its debt structure.
This new financing - which the company mainly plans to use to repay existing debt - will help to further increase the matutity of its debt for up to approximately three years on "slightly better economic terms", it said.
Pirelli recently extended the maturity of a 200 million euro credit line by over one year utnil September 2021, from the original maturity of June 2020.
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This new financing - which the company mainly plans to use to repay existing debt - will help to further increase the matutity of its debt for up to approximately three years on "slightly better economic terms", it said.
Pirelli recently extended the maturity of a 200 million euro credit line by over one year utnil September 2021, from the original maturity of June 2020.
Copyright (c) 2020 CercleFinance.com. All rights reserved.