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Pirelli, Prometeon: financing concluded for 600 million

The new loan will expire in March 2020 and guarantees independence and financial autonomy to Prometeon

Pirelli, Prometeon: financing concluded for 600 million

Prometeon Tire Group announces that the syndication of the inaugural credit line of 600 million euro has been successfully concluded, of which 450 million euro of "Term Facility" and 150 million euro of "Revolving Facility". The new loan will expire in March 2020, with an annual renewal option exercisable for the next two years.

The transaction guarantees the independence and financial autonomy of Prometeon following its separation from the Pirelli group and optimizes the company's capital structure.

The contract was signed by the company with Bank of America Merrill Lynch, China Construction Bank, HSBC Bank and ING Bank, each acting as Underwriter, Bookrunner and Initial Mandated Lead Arranger. Crédit Agricole Corporate and Investment Bank, Industrial and Commercial Bank of China, Banco Santander and Banco do Brasil underwrote the loan during the syndication process. Bank of America Merrill Lynch also acted as Documentation Agent and Facility Agent.

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