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Thales signs €1.5 bn climate-linked revolving credit facility

On 7 December 2020, Thales signed a new €1.5 bn multi-currency revolving credit facility with a group of 17 banks to replace the existing undrawn credit facility signed on 19 December 2014.

This backup line of credit can be used to cover general corporate purposes (including backup for the NeuCP* programme) and has a term of three years with two one-year extension options.

Fully in line with its commitments to corporate responsibility, the company has taken the initiative to incorporate the achievement of climate goals into the terms and conditions of its new revolving credit facility. Under this arrangement, the cost of the credit facility will be linked to the reduction of Thales's carbon footprint (Scopes 1, 2 and 3) in line with the Group's strategy for a low-carbon future and its commitments for the next 10 years. The cost of the revolving credit facility will rise or fall depending on the company's performance against its emissions reduction targets.

Crédit Agricole Corporate & Investment Bank is acting as documentation agent, facility agent and ESG coordinator. BBVA, Banco Santander, BNP Paribas, Commerzbank, CM-CIC, Deutsche Bank, HSBC, JP Morgan, Natixis, Société Générale Corporate & Investment Banking and Unicredit are taking part as mandated lead arrangers and bookrunners, while ANZ Bank, Barclays Bank, Citibank et Standard Chartered Bank are taking part as mandated lead arrangers.

* NeuCP: Negotiable EUropean Commercial Paper