Pirelli signs €500m credit line agreement
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Pirelli has a new 500 million euro line of credit following a new agreement with a select pool of international banks. Pirelli said the line will enable the reinforcement of the liquidity margin which, on 30 September 2023, already guaranteed coverage of debt maturities to the end of 2025. It will mature in December 2027.
Pirelli said the agreement could allow it to link the new credit line to its new and more challenging Science Based Targets, set to fulfil its commitment to Net Zero. The company is defining the new targets as part of its new industrial plan. It achieved its decarbonisation targets, initially set for 2025, two years ahead of schedule in 2023.
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