Luxottica announces improved terms for the € 1.0 bilion credit facility provided in 2004

Luxottica Group has announced that it has changed duration, margins and amount of the approximately € 1.0 billion credit facility originally provided in 2004.

Enrico Cavatorta, chief financial officer of Luxottica Group, commented: 'We are particularly pleased with the improvement in the terms and the increase in the amount of the credit facility. We believe it reflects a strong show of confidence in our Group from a pool of leading national and international banks'.

'We 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, we increased the amount of the revolving tranche from € 335 million to € 725 million, still below what the banks would have been able to provide, reflecting the ability of our 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.