Press Releases and Statements
Benetton finalizes revolving credit line of 500 million euro
Ponzano, 10 June 2005 – Benetton Group has finalized, with a pool of 10 banks, the negotiation of a revolving credit line for an amount of 500 million euro, expiry 2010.
The financing is at floating rate, Euribor index linked, one, three or six months, with a spread of between 27.5 and 60 basis points.
The loan provides for compliance with three financial covenants, to be calculated every six months based on the consolidated financial statements, namely:
There are also limitations on significant business disposals and on the granting of collateral security for new loans.
The pool of financing banks (all Mandated Leader Arrangers) is composed of: Banca di Roma of Capitalia Group, Banca Intesa, Banca Nazionale del Lavoro, Banco Popolare di Verona e Novara, BNP Paribas, Calyon, Citigroup Global Markets Ltd, HSBC Bank plc, Sanpaolo IMI, Unicredit Banca Mobiliare – UniCredit Banca D’Impresa.
Facility Agent BNP Paribas.
For further information: