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.
Michelin has entered into a new 2.5-billion-euro revolving credit facility with a group of 19 banks. The agreement, signed by Compagnie Générale des Établissements Michelin and the banks on 16 October, replaces the existing 1.5-billion-euro facility dated 12 July 2011 and amended in 2012 and 2014. Michelin describes the new facility as a “back-up facility” that, jointly with the company’s euro commercial paper program, has been increased to take the group’s growth into account.
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Pirelli