Early compensation of 280 million euros of French government-backed time period mortgage (“PGE”) and 250 million euros of senior unsecured fixed-rate bonds maturing in 2021 Paris inventory alternate: NEX
PRESS RELEASE _
EARLY REPAYMENT OF 280 MILLION EUROS OF TERM LOANS INSURED BY THE FRENCH STATE (“PGE”) AND 250 MILLION EUROS SENIOR SENIOR FIXED FIXED BOND DUE 2021
Paris, March 10, 2021 – Nexans as we speak proclaims the early repayments of the general public debt (“PGE”) of 280 million euros as of February 25, 2021 and of the senior unsecured mortgage at 3.25% issued on Might 26, 2016 and maturing on 26 Might 2021 (ISIN: FR0013176294) to March 10, 2021.
On June 11, 2020, Nexans introduced the execution of a time period mortgage of 280 million euros (“PGE”) backed by the French State, issued by a pool of French banks with a maturity of 12 months and an extension possibility, as much as 5 years, exercisable by Nexans. The French State ensures the Facility at 80%.
As introduced on February 17, 2021, in Nexans 2020 annual outcomes, the Group took benefit of its excessive degree of liquidity to prepay each government-backed loans and bonds.
At December 31, 2020, and earlier than these early repayments, Nexans’ liquidity place stood at 1.7 billion euros, together with an undrawn revolving credit score line of 600 million euros.
Nexans has adequate liquidity for its operations and its deliberate monetary commitments.
Nexans is a key driver of the world’s transition to a extra linked and sustainable power future. For greater than 120 years, the Group has been bringing power to life by providing its clients superior cable applied sciences for energy and knowledge transmission. Right now, Nexans goes past cables to supply its clients a complete service that harnesses digital expertise to maximise the efficiency and effectivity of their important property. The Group designs options and providers all through the worth chain in three fundamental areas of exercise: Constructing & Territories (together with utilities and electrical mobility), Excessive Voltage & Tasks (protecting offshore wind farms, subsea interconnections, terrestrial excessive voltage), and Trade & Options (together with renewables, transportation, oil & gasoline, automation and others).
Company Social Duty is a tenet of Nexans’ enterprise actions and inner practices. In 2013, Nexans was the primary cable operator to create a Basis supporting sustainable initiatives offering entry to power to underprivileged communities world wide. The Group’s dedication to the event of moral, sustainable and high-quality cables additionally motivates its energetic involvement in main industrial associations, together with Europacable, NEMA, ICF and CIGRE.
Nexans employs practically 25,000 folks with an industrial footprint in 38 international locations and industrial actions world wide. In 2020, the Group achieved 5.7 billion euros in customary income.
Nexans is listed on Euronext Paris, compartment A.
For extra info, please go to www.nexans.com
EARLY REIMBURSEMENT OF 280 MILLION EUROS OF TERM LOAN INSURED BY THE FRENCH STATE (“PGE”) AND OF 250 MILLION EUROS SENIOR SENIOR MANDATORY UNSECURED AT FIXED RATE DUE 2021