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Luxottica announces betterment in terms & amount of credit facility

15
Mar '06
Global leader in the eyewear sector Luxottica Group S.p.A announced that it has changed duration, margins and amount of the approximately euro 1.0 billion credit facility originally provided in 2004.

Enrico Cavatorta, chief financial officer of Luxottica Group, commented:

"They are particularly pleased with the improvement in the terms and the increase in the amount of the credit facility.

They believe it reflects a strong show of confidence in their Group from a pool of leading national and international banks."

"They were able to secure more advantageous terms, with a spread of between 20 and 40 basis points over LIBOR (depending on the debt to EBITDA ratio), compared with between 40 and 60 basis points of the original terms, as well as the extension of two tranches of the credit facility.

In addition, they increased the amount of the revolving tranche from euro 335 million to euro 725 million, still below what the banks would have been able to provide, reflecting the ability of their Group to secure best market conditions for its financing needs."

The Bookrunners are Bank of America, Citigroup, The Royal Bank of Scotland and UniCredit Banca Mobiliare.

The Mandated Lead Arrangers are ABN AMRO, Banca Intesa, Calyon, Capitalia and Mediobanca.

Luxottica Group is a global leader in eyewear, with nearly 5,500 optical and sun retail stores mainly in North America, Asia-Pacific and China and a well-balanced portfolio that comprises leading premium house and licensed brands, including Ray-Ban, the best selling sun and prescription eyewear brand in the world.

Luxottica Group S.p.A


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