The unsecured credit facility replaces Lufthansa’s existing unused credit lines of around 0.7 billion euros and will be available for three years with two one-year extension options, the airline said in a statement. .
“The signing of our first syndicated revolving credit facility strengthens our liquidity reserve and increases the efficiency of our balance sheet to guarantee our liquidity target of 6 to 8 billion euros,” said Chief Financial Officer Remco Steenbergen.
HSBC Continental Europe, Landesbank Baden-Wrttemberg and UniCredit Bank acted as lead bookrunner coordinators and arrangers, Lufthansa said.
($1 = 0.9213 euros)