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Prometeon Tyre Group is pleased to announce that it has successfully concluded the syndication of the inaugural 600 million euros of Credit Facilities consisting of a 450 million euros of Term Facility and a 150 million euros of Revolving Facility. The new Credit Facilities mature on March 2020, with two one-year extension options.
The Credit Facilities secure Prometeon’s financial independence and autonomy following its separation from the Pirelli Group and optimise the company’s capital structure.
The Credit Facilities were underwritten and led by Bank of America Merrill Lynch, China Construction Bank, HSBC Bank and ING Bank, each acting as an Underwriter, Bookrunner and Initial Mandated Lead Arranger. Crédit Agricole Corporate and Investment Bank, Industrial and Commercial Bank of China, Banco Santander and Banco do Brasil joined the Credit Facilities as a result of the syndication process. Bank of America Merrill Lynch also acted as Documentation Agent and Facility Agent.
Prometeon Tyre Group S.r.l. - Communication Department
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Cislaghi Tecla - Communication & Media Relations