Leonardo €600m ESG-linked term loan (2026)
Refinance debt that matured and was repaid in January 2026
Key terms
- Borrower or issuer
- Leonardo
- Date
- 10 Mar 2026
- Type
- Bank facility
- Amount
- €600m (US$696m)
- Pricing
- Margin linked to Group CO2 emission reduction targets
- Maturity
- 2031
Recorded terms
- Structure
- Five-year ESG-linked term loan, 2x oversubscribed; two-year grace period then proportional amortisation from year three
- Lenders and arrangers
- Mandated lead arrangers and bookrunners: Banco Bilbao Vizcaya Argentaria, Banco BPM, Santander, BNP Paribas (BNL, ESG coordinator), BPER Banca, CaixaBank, Commerzbank, Crédit Agricole CIB (ESG coordinator), Deutsche Bank, Intesa Sanpaolo, Société Générale, UniCredit (documentation and facility agent)
- Country
- Italy
Parties
- Leonardo borrower or issuer
- Lenders: Deutsche Bank, BNP Paribas, Credit Agricole CIB, Societe Generale, Santander, BBVA, Commerzbank, UniCredit, CaixaBank, Intesa Sanpaolo, Banco BPM, BPER Banca
Similar financings
| Date | Financing | Type | Amount |
|---|---|---|---|
| 16 Mar 2026 | Oshkosh US$1.6bn revolving credit facility | Bank facility | US$1.6bn |
| 27 Feb 2026 | Booz Allen Hamilton US$2.25bn revolver and term loan A-2 (2026) | Bank facility | US$2.25bn |
| 12 Feb 2026 | Leidos US$1.5bn revolving credit facility amendment and restatement (2026) | Bank facility | US$1.5bn |
| 12 Feb 2026 | Quantum Systems €150m long-term debt package (EIB, Commerzbank, Deutsche Bank, KfW) | Bank facility | €150m |
| 28 Jan 2026 | Leonardo DRS US$500m senior unsecured revolving credit facility | Bank facility | US$500m |
More from Leonardo
| Date | Financing | Type | Amount |
|---|---|---|---|
| 7 Oct 2025 | Leonardo €1.8bn ESG-linked revolving credit facility (2025) | Bank facility | €1.8bn |
| 7 Nov 2022 | EIB €260m sustainability-linked loan to Leonardo | Government finance | €260m |
| 20 Dec 2021 | Leonardo €600m ESG-linked term loan | Bank facility | €600m |
| 7 Oct 2021 | Leonardo €2.4bn ESG-linked revolving credit facility | Bank facility | €2.4bn |
| 1 Jul 2020 | Leonardo €500m 2.375% Eurobond due 2026 | Bond | €500m |
| 29 Nov 2018 | Leonardo €500m term loan (2018) | Bank facility | €500m |
M&A and investment involving Leonardo
| Date | Deal | Type | Value |
|---|---|---|---|
| 18 Mar 2026 | Leonardo acquisition of Iveco Defence Vehicles | M&A | €1.6bn |
| 23 Oct 2025 | Airbus, Thales and Leonardo space business combination (Project Bromo) | JV / capital partnership Announced | Not disclosed |
| 14 Jan 2025 | Fincantieri acquisition of Leonardo's underwater armaments business (WASS) | M&A | €287m |
| 15 Oct 2024 | Leonardo Rheinmetall Military Vehicles joint venture | JV / capital partnership Announced | Not disclosed |
| 3 Jan 2022 | Leonardo acquisition of 25.1% of Hensoldt from KKR | Stake sale | €606m |
Sources
- Leonardo press release: new ESG-linked term loan signed leonardo.com · 10 Mar 2026
- Leonardo regulated release (eMarket Storage) emarketstorage.it · 10 Mar 2026
About this record
Record DEF-2026-0038, taken from an issuer, lender or government announcement. Confirmed against the primary documents listed. Amounts are as announced; US$ 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.
