Banque PSA Finance adapts and improves the terms of its financial facilities

On 5 February 2015, Banque PSA Finance signed a new €700 million 5-year syndicated credit facility.

With the participation of 13 banks, the new facility was oversubscribed and the total amount was deliberately capped at €700 million. The new facility was competitively priced with a long maturity.

On the same day, Banque PSA Finance repaid and cancelled the €4.1 billion syndicated facility and €1.2 billion revolving facility signed on 11 January 2013, as well as the €2 billion syndicated facility signed on 13 December 2011.

These transactions are correlated to the launch of the new local partnership with Santander Consumer Finance in France and the United Kingdom, which has led to a significant reduction in Banque PSA Finance’s needs in terms of both financing and back-up facilities.

The success of this new facility reflects the market’s confidence in Banque PSA Finance's new environment.