Italian tubemaker Marcegaglia has obtained a six-year credit facility of €1 billion ($1.07 billion) from a pool of Italian and foreign banks. These include Intesa Sanpaolo as a global coordinator and agent, BNP Paribas, Crédit Agricole CIB, Santander CIB and Unicredit, Kallanish learns from the steel firm.
The credit facility includes €700 million that will be used to refinance medium-term lines maturing between 2024 and 2026, €200m to support the company’s future investments and €100m in revolving credit.
“The loan will support the new development plan of the Mantuan industrial group … promoting growth programmes and projects in the steel sector, including possible new acquisitions and alliances,” the company says.
Marcegaglia is one of Europe’s largest re-rollers. Last year it achieved a turnover of €7.7 billion and employs 6,600 workers. It re-rolls about 6.2 million tonnes/year of steel and has 29 re-rolling mills.
Natalia Capra France
