Legrand SA

01/13/2020 | Press release | Distributed by Public on 01/13/2020 11:10

Legrand: Amendment and Extension of Syndicated Loan

Legrand: Amendment and Extension of Syndicated Loan

13 Jan 2020 18:00 CET

Company Name

LEGRAND

ISN

FR0010307819

Market

Euronext

Symbol

LR

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20200113005722/en/

Investor relations
Legrand
Ronan Marc
Tel: +33 (0)1 49 72 53 53
[email protected]

Press relations
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Vilizara Lazarova
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Mob: +33 (0)6 26 72 57 14
[email protected]

Source

LEGRAND

Provider

BusinessWire