Iveco Group acquires €1.9 billion credit facility after demerger

By William Gullotti

Buffalo, N.Y., Jan. 4 – Iveco Group NV, in connection with its demerger from CNH Industrial NV, signed a new €1.9 billion credit facility, according to a press release on Tuesday.

The syndicated facility is divided into a €1.4 billion revolver and a €500 million term facility.

The revolver has a five-year tenor with two one-year extension options.

The term facility has a one-year tenor that, at the company’s option, may be extended up to 12 months.

Banco Bilbao Vizcaya Argentaria, Barclays, BNP Paribas, BofA Securities, Citi, Deutsche Bank, Intesa Sanpaolo, Mediobanca – Banca di Credito Finanziario, Mizuho Bank, Santander CIB, Societe Generale and Unicredit are the bookrunners and mandated lead arrangers.

Borrowings from the facility are intended for general corporate purposes and working capital needs.

Based in Turin, Italy, Iveco Group develops, manufactures and sells commercial and specialty vehicles.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.