Safran signs with leading international banks a Euro 950 million credit facility with a 5-year maturity
Paris, October 24, 2011 - Safran (NYSE Euronext Paris: SAF) signed on October 21, with a group of leading international banks, a revolving credit facility for an amount of Euro 950 million, maturing in October 2016. This operation allows Safran to stretch the maturity profile of its financing by replacing its committed backup facility of Euro 800 million which was otherwise maturing in January 2012 and reinforces the Group's strong liquidity for the next 5 years. The operation, structured as a club deal of 7 banks* all of which were already lending banks of Safran, underlines banks' confidence in the credit quality of Safran. The facility is for general corporate purposes. A net debt / EBITDA <2.5 covenant applies to the facility.
(*) The "Bookrunners and Mandated Lead Arrangers": Natixis, Crédit Industriel et Commercial (groupe Crédit Mutuel), Société Générale Corporate & Investment Banking, The Bank of Tokyo - Mitsubishi UFJ, Ltd.
The "Mandated Lead Arrangers": BNP Paribas, Crédit Agricole Corporate and Investment Bank, HSBC France.
Safran is a leading international high-technology group with three core businesses: Aerospace (propulsion and equipment), Defence and Security. Operating worldwide, the Safran group has more than 54,000 employees and generated sales of 10.8 billion euros in 2010.
Working alone or in partnership, Safran holds world or European leadership positions in its core markets. The Group invests heavily in Research & Development to meet the requirements of changing markets, including expenditures of 1.2 billion euros in 2010. Safran is listed on NYSE Euronext Paris and its share is part of the CAC40 index. Press
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