Globally syndicated credit facility
Covestro entered into a global revolving credit facility for general corporate purposes and as a liquidity reserve. Syndication took place within the Covestro core banking group.
The multicurrency revolving credit facility of 1.5 billion euro has a 5 year tenor (due September 2020) and two one year extension options. Predominantly, the facility serves as a liquidity reserve. Furthermore, the facility could be used for financing peaks.