Legrand: Amendment and Extension of Syndicated Loan
13 Janvier 2020 - 06:00PM
Business Wire
Maximum maturity extended to December 2026
Improved financing terms
CSR1 performance integrated into margin
computation
Regulatory News:
Legrand (Paris:LR) announced today that it has signed a new
agreement amending and extending the syndicated multi-currency loan
initially signed in October 2011, then modified in July 2014, with
all banks previously party to this contract.
Under this agreement, the maximum maturity of this €900 million
revolving credit line is extended by five and a half years – i.e.,
until December 2026 – at improved financial conditions compared
with July 2014.
Legrand is confirming its CSR1 commitment by introducing a
non-financial performance criterion for the margin computation,
which will now be adjusted each year to reflect the Group’s CSR1
roadmap achievement rate.
Key financial dates:
- 2019 annual results: February 13, 2020 “Quiet period2”
starts January 14, 2020
- 2020 first-quarter results: May 7, 2020 “Quiet period2”
starts April 7, 2020
- General Meeting of Shareholders: May 27, 2020
About Legrand
Legrand is the global specialist in electrical and digital
building infrastructures. Its comprehensive offering of solutions
for commercial, industrial and residential markets makes it a
benchmark for customers worldwide. Drawing on an approach that
involves all teams and stakeholders, Legrand is pursuing its
strategy of profitable and sustainable growth driven by
acquisitions and innovation, with a steady flow of new
offerings—including Eliot* connected products with enhanced value
in use. Legrand reported sales of close to €6 billion in 2018. The
company is listed on Euronext Paris and is notably a component
stock of the CAC 40 index. (code ISIN FR0010307819)
https://www.legrandgroup.com
*Eliot is a program launched in 2015 by Legrand to speed up
deployment of the Internet of Things in its offering. A result of
the Group’s innovation strategy, Eliot aims to develop connected
and interoperable solutions that deliver lasting benefits to
private individual users and professionals.
https://www.legrandgroup.com/en/group/eliot-legrands-connected-objects-program
1 CSR: Corporate Social Responsibility. 2 Period of time when
all communication is suspended in the run-up to publication of
results.
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Investor relations Legrand Ronan Marc Tel: +33 (0)1 49 72
53 53 ronan.marc@legrand.fr Press relations Publicis
Consultants Vilizara Lazarova Tel: +33 (0)1 44 82 46 34 Mob: +33
(0)6 26 72 57 14 vilizara.lazarova@consultants.publicis.fr
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