Oppenhoff advises world’s largest cable manufacturer Prysmian on EUR one billion group financing

Oppenhoff has advised the world’s largest cable manufacturer Prysmian S.p.A. on its new EUR one billion revolving credit facility . The facility is being made available by an international banking consortium including the seven bookrunners Banco BPM, BNP Paribas, Citibank, Crédit Agricole CIB, ING, Intesa Sanpaolo and Mediobanca. ING acted as documentation agent, Intesa Sanpaolo as ESG advisor and Mediobanca as facility agent.

The credit facility was granted at optimised conditions, also against the background of the investment grade rating recently assigned to Prysmian by Standard & Poor's. It has a five-year term and can be extended to six or seven years.

The parameters determining the financing conditions also include important environmental and social ESG goals: the reduction of CO2 emissions, the ratio of hired female white collar employees and executives to the number of overall hirings and the number of sustainability audits performed on the supply chain.

In addition to Oppenhoff (lead partner: Dr. Wolfgang Kotzur), Prysmian was advised by Simmons & Simmons (Milan) on questions of Italian law. Oppenhoff already advised the world’s largest cable manufacturer in 2022 on a sustainability-linked loan of EUR 1.2 billion.

The Prysmian Group is global leader in the power cables and telecommunication cables industry. With around 150 years of experience, sales of over 16 billion euro, about 30,000 employees in more than 50 countries and 108 sites, the group holds a strong position in the high-tech markets and offers the broadest possible range of products, services, technologies and know-how. Prysmian is a stock corporation listed in the FTSE MIB Index on the Italian stock market.

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