13
Prysmian Group Insight
GETTING THINGS DONE
Prysmian SpA has signed a
with a pool of primary
domestic and international banks.
The maturity date is 27 June 2019,
while the financing will be used
for general corporate purposes
and working capital requirements,
including the refinancing of existing
debt facilities. “This important credit
facility allows the Group to improve
its financial structure by extending
the average maturity of the
financing sources and by assuring
more financial flexibility,” explains
Pier Francesco Facchini, Chief
Financial Officer at Prysmian.
The continuous financial deleverage
of the past years, along with the
Group’s proven cash-generation
capability, are the founding pillars
The Group has recently developed
a new hybrid telecommunications
cable as part of the new Ultra-
Fast Broadband (UFB) project,
implemented by the New Zealand
Government. The Government
wants to ensure that all New
Zealanders have access to ultra-fast
broadband, considered an essential
infrastructure of a productive
and growing economy. The new
hybrid cable, named OptiC@5e,
specifically meets the needs of the
deployment that will be undertaken
by Chorus, New Zealand’s largest
telecommunications infrastructure
company. The cable combines the
two technologies of optic fibre and
four copper pairs under a common
LSOH sheath.
Prysmian Group is working on
Milan’s new Outer Eastern Bypass,
after being awarded a contract to
supply cables for the infrastructure
currently under construction with the
aim of improving mobility in the city
hosting the Expo 2015. The contract
was awarded by Gavio Group and
CMB. Prysmian will supply a full
range of energy and fibre optic
products, including about 700 km
of Afumex low and medium voltage
cables (Afumex 750, Afumex 1000
amico, RF 31-22), manufactured
at the Giovinazzo, Merlino and
Pignataro Maggiore plants in Italy.
The cables will be laid along a series
of trenches, embankments and
tunnels. Around 150 km of armoured
fibre optic cables will be supplied for
the operation of alarm systems and
toll booths.
At the Offshore Technology
Conference 2014 in Houston,
Texas, Prysmian showcased its
comprehensive product portfolio
specifically designed for the oil and
gas industry. The Group is currently
launching a new organisation
aimed at accelerating expansion in
the Subsea Umbilicals, Risers and
Flowlines (SURF) business. Prysmian
has established new headquarters in
Houston to develop a new business
strategy by expanding the global
growth of the business unit and by
improving market penetration for
niche products in the oil and gas
industry. In addition to headquarters
in Houston and production facilities
in Brazil and North America, the new
organisation will include commercial
offices in Europe, Asia, China and
the Middle East.
of Prysmian’s financial solidity and
create the conditions to carry on
a growth strategy while facing
the challenges coming from the
markets. “We are happy with the
participation of the main banks
we work with. Their co-operation
enabled us to reach an agreement
of significant size at a cost that is
even more competitive than the
existing facilities,” pointed out
Giovanni Zancan, Prysmian Group
Finance Director. Banca IMI, BNP
Paribas, Citigroup, Crédit Agricole,
ING Bank and UniCredit Bank acted
as bookrunners. ING Bank acted
also as Global Coordinator and
Documentation Agent, UniCredit
Bank as Facility Agent and BNP
Paribas as Issuing Bank in case of
non-cash utilisation.
Prysmian financial
structure strengthened
New hybrid cable
perfect for FTTP
systems
New step towards
Expo 2015
Thanks to a €1 billion long-term revolving credit facility
that will be used for general corporate purposes and
working capital requirements.
O&G solutions
showcased in Houston
