Thales completes €2 billion syndicated credit facility

Despite commercial aerospace activities making up a small part of the firm’s revenues Thales has completed  €2 billion syndicated credit facility as part of package of measures to deal with Covid 19 downturn. “Our direct exposure to the most affected markets is limited. Our civil aeronautics businesses represent only around 12% of the Group’s turnover. However, like all industrial companies, this crisis is currently seriously disrupting production chains and project execution,” said chief executive of Thales. Thales said as of  December 31 2019, it held €2.9 billion in cash and cash equivalents and an undrawn committed credit facility amounting to €1.5 billion, maturing