Today 09/23/2016 - 05:35:23 PM
Peugeot SA 13.525€
CAC 40 4,488.69 PTS
Banque PSA Finance signed a new €4.1 billion 5-year syndicated loan agreement on 11 January 2013. The facility was oversubscribed, with 18 banks from eight different countries taking part.
On the same day, as part of the plan to streamline and extend its back-up facilities, the Bank negotiated an extension of a €1.2 billion revolving line of credit to January 2016. Having also rolled over for €1.8 billion line of credit to December 2015, it now has unused drawing rights totalling €3 billion.
Lastly, Banque PSA Finance has rolled over the majority of its bilateral bank facilities, strengthening its ties with its banking pool comprising over fifty institutions worldwide.
Together, these transactions allow Banque PSA Finance to confirm the availability of €11.5 billion worth of medium-term bank financing.
Thanks to the roll-over of these bank facilities, along with the securitization programs and the planned issues of State-guaranteed bonds, Banque PSA Finance now has robust sources of refinancing and good visibility of their amount and duration.