In connection with the demerger of the Iveco Group business from CNH Industrial and the related financing needs of Iveco Group going forward, Iveco Group signed a €1.9 billion ($2.14 billion) syndicated facility with Banco Bilbao Vizcaya Argentaria, Barclays, BNP Paribas, BofA Securities, Citi, Deutsche Bank, Intesa Sanpaolo, Mediobanca – Banca di Credito Finanziario, Mizuho Bank, Santander CIB, Société Générale and Unicredit as bookrunners and mandated lead arrangers.
The syndicated facility includes a €1.4 billion ($1.58 billion) committed revolving credit facility with a five-year tenor with two extension options of one-year each and a €500 million ($565.5 million) committed term facility with a 12-months tenor, which is extendable for up to an additional 12 months at the company’s sole option.
The syndicated facility is intended for general corporate purposes and working capital needs of Iveco Group.
