BERLIN (Reuters) – Germany’s flag carrier Lufthansa said on Friday it had signed a revolving credit facility of 2.0 billion euros ($2.17 billion) with a syndicate of international relationship banks to boost its liquidity.
The unsecured loan facility replaces Lufthansa’s existing undrawn 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 in securing our liquidity target of 6-8 billion euros,” Finance Chief Remco Steenbergen said.
HSBC Continental Europe, Landesbank Baden-Württemberg and UniCredit Bank acted as coordinating bookrunners and mandated lead arrangers, Lufthansa said.
($1 = 0.9213 euros)
(Reporting by Zuzanna Szymanska; Editing by Riham Alkousaa)
