Vinci Renews Credit Line, Reduces Its Size to $7.1 Billion
January 11 2024 - 12:34AM
Dow Jones News
By Adria Calatayud
Vinci renewed a revolving credit line with a bank syndicate,
reducing its size to 6.5 billion euros ($7.13 billion) from EUR8.0
billion previously.
The French construction group said late Wednesday that it
decided to lower the amount of the credit line, which is aimed to
fund its general requirements and is currently unused, in light of
an increase in its available cash in recent years.
The maturity has been extended until January 2029, with two
renewal options for an additional year each, while the number of
participating banks increased to 23 from 21 previously, Vinci
said.
The company said the transaction was largely oversubscribed.
Write to Adria Calatayud at adria.calatayud@wsj.com
(END) Dow Jones Newswires
January 11, 2024 01:19 ET (06:19 GMT)
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