Nexans:
Press release, Paris, France 11th June 2020
Nexans secures French State backed €280 million Term Loan facility
Paris La Défense, June 11th, 2020 - Nexans announced today the execution of a French State backed €280 million term loan (“PGE”) ("the Facility"), issued by a pool of French banks with a twelve-month maturity and an extension option, up to five years, exercisable by Nexans. The French state is guaranteeing the Facility at 80%.
As of March 31st, 2020, and prior to securing the Facility, Nexans liquidity position already stood at sound 1.0 billion euros, including a 600 million euros undrawn revolving credit facility. Early April 2020, the Group has drawn down 200 million euros from the revolving credit facility to repay commercial papers at maturity. Nexans has sufficient liquidity for its operations and foreseen financial commitments, with no debt repayments before 2021.
Crédit Agricole CIB (acting as agent), BNP Paribas (acting as coordinator), CIC, Crédit Agricole Ile de France, Natixis and Société Générale acted as lending banks.
About Nexans
Nexans is a key driver for the world’s transition to a more connected and sustainable energy future. For over 120 years, the Group has brought energy to life by providing customers with advanced cable technologies for power and data transmission. Today, Nexans goes beyond cables to offer customers a complete service that leverages digital technology to maximize the performance and efficiency of their critical assets. The Group designs solutions and services along the entire value chain in four main business areas: Building & Territories (including utilities and emobility), High Voltage & Projects (covering offshore wind farms, subsea interconnections, land high voltage), Telecom & Data (covering data transmission, telecom networks, hyperscale data centers, LAN), and Industry & Solutions (including renewables, transportation, oil and gas, automation, and others).
Corporate Social Responsibility is a guiding principle of Nexans’ business activities and internal practices. In 2013 Nexans was the first cable provider to create a Foundation supporting sustainable initiatives bringing access to energy to disadvantaged communities worldwide. The Group’s commitment to developing ethical, sustainable and high-quality cables also drives its active involvement within leading industry associations, including Europacable, the NEMA, ICF and CIGRE.
Nexans employs nearly 26,000 people with an industrial footprint in 34 countries and commercial activities worldwide. In 2019, the Group generated 6.7 billion euros in sales.
Nexans is listed on Euronext Paris, compartment A.
For more information, please visit:
| Financial Communication | Communications |
| Aurélia Baudey-Vignaud Tel: +33 (0)1 78 15 03 94 e-mail: | Catherine Garipoglu Tel: +33 (0)1 78 15 04 78 e-mail: |
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