Leonardo launches Commercial Paper Program

Rome  08 July 2022 18:26 Inside Information

  • The Program will allow issuances for a maximum amount of 1 billion euros
  • The Program will enable Leonardo to benefit from an additional short-term funding instrument for the financing of working capital

Leonardo's Board of Directors approved a framework Programme for the issuance of Commercial Papers on the European market (Multi-Currency Commercial Paper Program).

Alessandro Profumo, CEO of Leonardo, stated: “This Program will allow Leonardo to further improve and diversify its short-term funding instruments available to the Group for the financing of working capital and represents a further step forward in the Group's disciplined financial strategy”.

The securities that can be issued under this Program are for a maximum amount of 1 billion euros and will be intended for qualified investors. The three-year program will be governed by Italian law no. 43 of 13/01/1994 " Disciplina delle Cambiali Finanziarie". 

The financial instruments, issued in one or more solutions during the validity of the Program, will be listed on the ExtraMOT PRO professional segment operated by Borsa Italiana and it will be assigned a rating by at least one of the agencies that already assesses Leonardo's debt. 

The Arranger of the Program will be Crédit Agricole Corporate & Investment Bank; the Dealers are being defined and will be subsequently communicated.