Press Releases and Statements

Benetton finalizes revolving credit line of 500 million euro

Ponzano, 10 June 2005 – Benetton Group has finalized, with a pool of 10 banks, the negotiation of a revolving credit line for an amount of 500 million euro, expiry 2010.

Xổ số miền nam chủ nhậtThe financing is at floating rate, Euribor index linked, one, three or six months, with a spread of between 27.5 and 60 basis points.

Xổ số miền nam chủ nhậtThe loan provides for compliance with three financial covenants, to be calculated every six months based on the consolidated financial statements, namely:

  • minimum ratio between EBITDA (earnings before interest, taxes, depreciation and amortization) and net financial charges of 4;
  • minimum ratio between the net financial position and shareholders’ equity of 1;
  • maximum ratio between the net financial position and EBITDA of 3.5.

    • Xổ số miền nam chủ nhậtThere are also limitations on significant business disposals and on the granting of collateral security for new loans.

    The pool of financing banks (all Mandated Leader Arrangers) is composed of: Banca di Roma of Capitalia Group, Banca Intesa, Banca Nazionale del Lavoro, Banco Popolare di Verona e Novara, BNP Paribas, Calyon, Citigroup Global Markets Ltd, HSBC Bank plc, Sanpaolo IMI, Unicredit Banca Mobiliare – UniCredit Banca D’Impresa.
    Facility Agent BNP Paribas.

     

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