Stellantis Announces Successful Amendment and Maturity Extension of €12 Billion Syndicated Revolving Credit Facility
Stellantis N.V. (STLA) has successfully extended and amended its €12 billion syndicated revolving credit facility (RCF), originally established in July 2021. The updated RCF is structured in two €6 billion tranches: one with a three-year tenor (July 2027) and another with a five-year tenor (July 2029). Both tranches have two one-year extension options exercisable on the first and second anniversary of the amendment signing date.
The facility involves 29 banks from Europe, America, and Asia, demonstrating strong international support for Stellantis. This amendment, featuring improved terms, enhances the company's financial flexibility and remains available for general corporate purposes.
- Extended maturity and improved terms of €12 billion revolving credit facility
- Increased financial flexibility for general corporate purposes
- Strong support from 29 international banks
- None.
The extension and amendment of Stellantis' €12 billion syndicated revolving credit facility (RCF) indicate robust support from their banking partners. This move provides Stellantis with enhanced financial flexibility and ensures liquidity for general corporate purposes over the medium to long term.
Positives for Investors: The extension of the RCF's maturity to 2027 and 2029, respectively, with additional extension options, reflects confidence in Stellantis' financial health. This could be seen as an assurance of financial stability, reducing the risk of liquidity constraints.
Another important aspect is the participation of a diverse group of 29 banks from Europe, America and Asia, which signifies broad international trust in Stellantis' operations and strategic direction.
Short-term Impact: In the short term, investors can expect the RCF to provide a cushion against any unforeseen financial exigencies, thereby stabilizing the company's operational capacity.
Long-term Impact: Over the longer term, the amended credit facility will support Stellantis in pursuing its strategic initiatives without immediate financial strain, potentially leading to sustainable growth and strengthened market position.
Overall, this development is a positive indicator of Stellantis' credibility in the financial markets and its ability to manage debt effectively. Investors should view this as a sign of proactive financial management, which may bolster confidence in the company's long-term prospects.
Stellantis Announces Successful Amendment and Maturity Extension of
AMSTERDAM, July 17, 2024 - Stellantis N.V. announced today that it has successfully extended the maturity and amended its syndicated revolving credit facility (“RCF”) of
The syndicated credit facility includes a broad-based group of 29 banks from Europe, America and Asia. The RCF is structured in two tranches:
The RCF, as amended with improved terms, secures financial flexibility, and remains available for general corporate purposes of the Group.
This successful transaction confirms the strong support to Stellantis from its international relationship banks.
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About Stellantis
Stellantis N.V. (NYSE: STLA / Euronext Milan: STLAM / Euronext Paris: STLAP) is one of the world’s leading automakers aiming to provide clean, safe and affordable freedom of mobility to all. It’s best known for its unique portfolio of iconic and innovative brands including Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, FIAT, Jeep®, Lancia, Maserati, Opel, Peugeot, Ram, Vauxhall, Free2move and Leasys. Stellantis is executing its Dare Forward 2030, a bold strategic plan that paves the way to achieve the ambitious target of becoming a carbon net zero mobility tech company by 2038, with single-digit percentage compensation of the remaining emissions, while creating added value for all stakeholders. For more information, visit www.stellantis.com.
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FORWARD-LOOKING STATEMENTS
This communication contains forward-looking statements. In particular, statements regarding future events and anticipated results of operations, business strategies, the anticipated benefits of the proposed transaction, future financial and operating results, the anticipated closing date for the proposed transaction and other anticipated aspects of our operations or operating results are forward-looking statements. These statements may include terms such as “may”, “will”, “expect”, “could”, “should”, “intend”, “estimate”, “anticipate”, “believe”, “remain”, “on track”, “design”, “target”, “objective”, “goal”, “forecast”, “projection”, “outlook”, “prospects”, “plan”, or similar terms. Forward-looking statements are not guarantees of future performance. Rather, they are based on Stellantis’ current state of knowledge, future expectations and projections about future events and are by their nature, subject to inherent risks and uncertainties. They relate to events and depend on circumstances that may or may not occur or exist in the future and, as such, undue reliance should not be placed on them.
Actual results may differ materially from those expressed in forward-looking statements as a result of a variety of factors, including: the ability of Stellantis to launch new products successfully and to maintain vehicle shipment volumes; changes in the global financial markets, general economic environment and changes in demand for automotive products, which is subject to cyclicality; Stellantis’ ability to successfully manage the industry-wide transition from internal combustion engines to full electrification; Stellantis’ ability to offer innovative, attractive products and to develop, manufacture and sell vehicles with advanced features including enhanced electrification, connectivity and autonomous-driving characteristics; Stellantis’ ability to produce or procure electric batteries with competitive performance, cost and at required volumes; Stellantis’ ability to successfully launch new businesses and integrate acquisitions; a significant malfunction, disruption or security breach compromising information technology systems or the electronic control systems contained in Stellantis’ vehicles; exchange rate fluctuations, interest rate changes, credit risk and other market risks; increases in costs, disruptions of supply or shortages of raw materials, parts, components and systems used in Stellantis’ vehicles; changes in local economic and political conditions; changes in trade policy, the imposition of global and regional tariffs or tariffs targeted to the automotive industry, the enactment of tax reforms or other changes in tax laws and regulations; the level of governmental economic incentives available to support the adoption of battery electric vehicles; the impact of increasingly stringent regulations regarding fuel efficiency requirements and reduced greenhouse gas and tailpipe emissions; various types of claims, lawsuits, governmental investigations and other contingencies, including product liability and warranty claims and environmental claims, investigations and lawsuits; material operating expenditures in relation to compliance with environmental, health and safety regulations; the level of competition in the automotive industry, which may increase due to consolidation and new entrants; Stellantis’ ability to attract and retain experienced management and employees; exposure to shortfalls in the funding of Stellantis’ defined benefit pension plans; Stellantis’ ability to provide or arrange for access to adequate financing for dealers and retail customers and associated risks related to the operations of financial services companies; Stellantis’ ability to access funding to execute its business plan; Stellantis’ ability to realize anticipated benefits from joint venture arrangements; disruptions arising from political, social and economic instability; risks associated with Stellantis’ relationships with employees, dealers and suppliers; Stellantis’ ability to maintain effective internal controls over financial reporting; developments in labor and industrial relations and developments in applicable labor laws; earthquakes or other disasters; risks and other items described in Stellantis’ Annual Report on Form 20-F for the year ended December 31, 2023 and Current Reports on Form 6-K and amendments thereto filed with the SEC; and other risks and uncertainties.
Any forward-looking statements contained in this communication speak only as of the date of this document and Stellantis disclaims any obligation to update or revise publicly forward-looking statements. Further information concerning Stellantis and its businesses, including factors that could materially affect Stellantis’ financial results, is included in Stellantis’ reports and filings with the U.S. Securities and Exchange Commission and AFM.
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