Leonardo €1.8bn ESG-linked revolving credit facility (2025)
Replace the 2021 ESG-linked facility, cutting the margin by 30% and extending maturity to 2030
Key terms
- Borrower or issuer
- Leonardo
- Date
- 7 Oct 2025
- Type
- Bank facility
- Amount
- €1.8bn (US$2.0bn)
- Maturity
- 2030
Recorded terms
- Structure
- Five-year ESG-linked revolving credit facility with two CO2 reduction targets; 26 banks, about €5bn oversubscribed
- Lenders and arrangers
- Mandated lead arrangers and bookrunners: Banco Bilbao Vizcaya Argentaria, Banco BPM, Banco Santander, Bank of America Europe DAC, BNP Paribas / BNL, BPER Banca, CaixaBank, Commerzbank, Crédit Agricole Corporate and Investment Bank, Deutsche Bank Luxembourg, Intesa Sanpaolo, Société Générale and UniCredit; lead arrangers: Barclays Bank Ireland, Crédit Industriel et Commercial, Citibank, HSBC Continental Europe, Mediobanca, MUFG Bank and NatWest Markets; co-arrangers: Banca Passadore, Banca Popolare di Sondrio, Bank of China, JP Morgan, Morgan Stanley and SMBC Bank EU. UniCredit, documentation agent; Intesa Sanpaolo, facility agent
- Country
- Italy
Parties
- Leonardo borrower or issuer
- Lenders: Bank of America, Citigroup, J.P. Morgan, Morgan Stanley, Barclays, Deutsche Bank, HSBC, BNP Paribas, Credit Agricole CIB, Societe Generale, MUFG, SMBC Nikko, Santander, NatWest, BBVA, Commerzbank, UniCredit, CaixaBank, Intesa Sanpaolo, Banco BPM, BPER Banca, Mediobanca, Bank of China, CIC
Similar financings
| Date | Financing | Type | Amount |
|---|---|---|---|
| 9 Oct 2025 | Theon International €300m senior revolving credit facility (2025) | Bank facility | €300m |
| 16 Oct 2025 | Textron US$1.0bn revolving credit facility (2025) | Bank facility | US$1bn |
| 4 Nov 2025 | Mercury Systems US$850m revolving credit facility (2025) | Bank facility | US$850m |
| 2 Sep 2025 | Northrop Grumman US$3bn revolving credit facility (2025) | Bank facility | US$3bn |
| 25 Nov 2025 | CACI International US$3.25bn credit facilities (2025) | Bank facility | US$3.25bn |
More from Leonardo
| Date | Financing | Type | Amount |
|---|---|---|---|
| 20 Dec 2021 | Leonardo €600m ESG-linked term loan | Bank facility | €600m |
| 7 Oct 2021 | Leonardo €2.4bn ESG-linked revolving credit facility | Bank facility | €2.4bn |
| 1 Jul 2020 | Leonardo €500m 2.375% Eurobond due 2026 | Bond | €500m |
| Jun 2017 | Leonardo €600m 1.50% Eurobond due 2024 | Bond | €600m |
M&A and investment involving Leonardo
| Date | Deal | Type | Value |
|---|---|---|---|
| 18 Mar 2026 | Leonardo acquisition of Iveco Defence Vehicles | M&A | €1.6bn |
| 23 Oct 2025 | Airbus, Thales and Leonardo space business combination (Project Bromo) | JV / capital partnership Announced | Not disclosed |
| 14 Jan 2025 | Fincantieri acquisition of Leonardo's underwater armaments business (WASS) | M&A | €287m |
| 15 Oct 2024 | Leonardo Rheinmetall Military Vehicles joint venture | JV / capital partnership Announced | Not disclosed |
| 3 Jan 2022 | Leonardo acquisition of 25.1% of Hensoldt from KKR | Stake sale | €606m |
Sources
- Leonardo press release: successfully renegotiated the ESG-linked credit line, ca. 3x oversubscribed leonardo.com · 7 Oct 2025
About this record
Record DEF-2025-0038, taken from an issuer, lender or government announcement. Confirmed against the primary documents listed. Amounts are as announced; US$ equivalents use approximate annual average exchange rates. Spotted an error or have a document we have missed? Send a correction, and changes are logged on Updates and corrections.
Read the structure
A revolving or term facility is a relationship loan from a bank group, priced at a margin over a reference rate, with financial covenants and an agent.
