PSA Peugeot Citroën announces the signature of a €3-billion syndicated credit...

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08/04/2014 | Paris

Today, PSA Peugeot Citroën 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.


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