Debt

Pirelli in figures Pirelli in figures (1,54 MB)


Pirelli, on November 30 2010, signed a new revolving line of credit for 1.2 billion euros with a duration of five years which replace previous lines of credit worth a total of 1.475 billion euros, launched in 2005 and 2007 with maturities in 2011 and 2012.

Press Release: Pirelli signs new revolving credit line


 

Credit Facility details as of 31 December 2011

 

Banks Total Line Maturity Covenant variable Negative Pledge
Pirelli & C
 
Bank of America-Merrill Lynch, Barclays, BNP Paribas, Commerzbank, HSBC, Intesa Sanpaolo, Mediobanca, Mizuho, Société Générale, The Bank of Tokyo-Mitsubishi, The Royal Bank of Scotland, UniCredit €1,200mln 2015 Ratio between consolidated net indebtedness and Gross Operating Margin (observed as of December 31, 2010) Not to grant real guarantees, above a threshold defined as the greater of €100mln and 3% of Total Assets*
 
 

* with the exception of real guarantees on the existing debt or debt to replace it, to be granted by law, relating to “export finance”, “project finance” and subsidized finance


Last Revised: 08 Aug 2014