Maturity of syndicated loan extended to October 2017
Legrand today announced a one-year extension of its syndicated loan facility by all participating banks. The move extends the maturity of this €900 million revolving facility to October 2017.
More generally, over the past three years, Legrand has diversified its sources of financing and raised the maturity of its total gross debt to around eight years. This, in turn, has strengthened the group’s already very sound balance sheet structure, underpinned by a business model generating substantial cash and whose rating by Standard and Poor's was raised to A- last February.