PSA Peugeot Citroën Announces the Signature of a €3-Billion Syndicated Credit Facility
08 April 2014 - 6:07PM
Business Wire
Regulatory News:
Today, PSA Peugeot Citroën (Paris:UG) signed a new €3-billion
syndicated credit facility comprising a €2.0-billion tranche
expiring in five years and a €1.0-billion tranche expiring in three
years with two optional one-year extensions.
The line of credit is contingent on the completion of the share
and rights issues announced last 19 February and will replace the
€2.4-billion facility arranged in July 2010 and expiring in July
2015.
The new facility was underwritten in an amount of €2.7 billion
by nine banks in February and subsequently syndicated. Although
amply oversubscribed, the total amount was deliberately capped at
€3.0 billion.
The banks’ confidence in the manufacturing and sales partnership
and in the proposed transactions presented by PSA Peugeot Citroën
last 19 February was reflected in the participation of 25 banks
from 11 countries, the highly competitive pricing and the duration
of the line, which has not been offered on a Peugeot S.A.
syndicated credit facility since March 2005, when it was rated
investment grade.
In conjunction with the share and rights issues announced on 19
February, the new facility is designed to strengthen the Group’s
financial profile, robustness and financial security.
About PSA Peugeot CitroënWith its three world-renowned
brands, Peugeot, Citroën and DS, PSA Peugeot Citroën sold
2.8 million vehicles worldwide in 2013, of which 42% outside
Europe. The second largest carmaker in Europe, PSA Peugeot Citroën
recorded sales and revenue of €54 billion in 2013. The Group is the
European leader in terms of CO emissions, with an average of 115.9
grams of CO2/km in 2013. PSA Peugeot Citroën has sales operations
in 160 countries. It is also involved in financing activities
(Banque PSA Finance) and automotive equipment (Faurecia).For more
information, please visit www.psa-peugeot-citroen.com
Communications Department, Media relations : 75
av. de la Grande Armée - 75116 ParisTelephone (33 1) 40 66 42 00 -
www.psa-peugeot-citroen.com
PSA Peugeot CitroënMedia Contact: +33 1 40 66 42
00
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