Leonardo €500m term loan (2018)
Refinance existing debt
Key terms
- Borrower or issuer
- Leonardo
- Date
- 29 Nov 2018
- Type
- Bank facility
- Amount
- €500m (US$590m)
- Pricing
- 6-month Euribor + 110bp
- Maturity
- 2023-11
Recorded terms
- Structure
- Five-year bullet term loan signed with 13 banks, on terms consistent with the February 2018 RCF
- Lenders and arrangers
- Mandated lead arrangers and bookrunners: BNP Paribas (global coordinator and documentation bank), Banco BPM, BofA Merrill Lynch (Bank of America Merrill Lynch International), MUFG, Commerzbank, Crédit Agricole CIB, Banca IMI (agent), SMBC, UniCredit; lead arrangers: BPER Banca, Citibank, Natixis, Société Générale
- Country
- Italy
Parties
- Leonardo borrower or issuer
- Lenders: BofA Securities, Citigroup, BNP Paribas, Credit Agricole CIB, Societe Generale, MUFG, SMBC Group, Commerzbank, UniCredit, Intesa Sanpaolo, Natixis, Banco BPM, BPER Banca
Similar financings
| Date | Financing | Type | Amount |
|---|---|---|---|
| 21 Nov 2018 | Ducommun US$340m amended and restated credit facilities | Bank facility | US$340m |
| 31 Oct 2018 | Comtech US$300m amended and restated revolving credit facility | Bank facility | US$300m |
| 17 Oct 2018 | Curtiss-Wright US$500m revolving credit facility (2018) | Bank facility | US$500m |
| 17 Jan 2019 | CACI US$400m incremental revolving credit commitments | Bank facility | US$400m |
| 1 Oct 2018 | Mercury Systems US$750m revolving credit facility (upsized) | Bank facility | US$750m |
More from Leonardo
| Date | Financing | Type | Amount |
|---|---|---|---|
| 10 Mar 2026 | Leonardo €600m ESG-linked term loan (2026) | Bank facility | €600m |
| 7 Oct 2025 | Leonardo €1.8bn ESG-linked revolving credit facility (2025) | Bank facility | €1.8bn |
| 7 Nov 2022 | EIB €260m sustainability-linked loan to Leonardo | Government finance | €260m |
| 20 Dec 2021 | Leonardo €600m ESG-linked term loan | Bank facility | €600m |
| 7 Oct 2021 | Leonardo €2.4bn ESG-linked revolving credit facility | Bank facility | €2.4bn |
| 1 Jul 2020 | Leonardo €500m 2.375% Eurobond due 2026 | Bond | €500m |
M&A and investment involving Leonardo
| Date | Deal | Type | Value |
|---|---|---|---|
| 18 Mar 2026 | Leonardo acquisition of Iveco Defence Vehicles | M&A | €1.6bn |
| 23 Oct 2025 | Airbus, Thales and Leonardo space business combination (Project Bromo) | JV / capital partnership Announced | Not disclosed |
| 14 Jan 2025 | Fincantieri acquisition of Leonardo's underwater armaments business (WASS) | M&A | €287m |
| 15 Oct 2024 | Leonardo Rheinmetall Military Vehicles joint venture | JV / capital partnership Announced | Not disclosed |
| 3 Jan 2022 | Leonardo acquisition of 25.1% of Hensoldt from KKR | Stake sale | €606m |
Sources
- Leonardo press release: €500m term loan facility signed leonardo.com · 29 Nov 2018
About this record
Record DEF-2018-0023, taken from an issuer, lender or government announcement. Confirmed against the primary documents listed. Amounts are as announced; US$ 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.
