Today Leonardo has finalized the establishment of its first Program for the issuance of Financial Bills (Multi-Currency Commercial Paper Program). The securities that may be issued under this Program, for a maximum aggregate amount from time to time equal to 1 billion euro, will be intended exclusively for investors
The three-year program will allow Leonardo to further enrich and diversify the catalog of short-term funding instruments available to the Group for financing working capital and represents a further step forward in the Group's disciplined financial strategy.
The financial instruments, which may be issued in one or more solutions during the period of validity of the Program, are expected to be listed on the professional segment of the ExtraMOT multilateral trading system operated by Borsa Italiana.
The Program has obtained the following ratings: “F3” from Fitch and “Not Prime” from Moody's.
Crédit Agricole Corporate & Investment Bank assumed the role of Arranger of the transaction; The Bank of New York Mellon SA / NV - Milan Branch will hold the role of Paying and Calculation Agent.
Banca Akros SpA - Banco BPM Group, Barclays Bank Ireland PLC, Crédit Agricole Corporate & Investment Bank, Equita SIM SpA and PKF Attest Capital Markets AV, SA will act as Dealers of the Program.
For the purposes of setting up the Program, Arrangers and Dealers were assisted by Clifford Chance Studio Legale Associato and Leonardo by Legance Avvocati Associati as legal consultants.