Nexans repays €280 million French-state backed loan early

Chicago, March 10 – Nexans SA announced that it has fully repaid the state-backed loan it received on June 11, 2020, according to a press release.

The company paid back the €280 million loan on Feb. 25.

The loan had a 12-month maturity and an extension option. The loan was issued by a pool of French banks with an 80% guarantee from the French state.

As of Dec. 31, the company had liquidity of €1.7 billion, including €600 million from an undrawn revolver.

Nexans is a Paris-based manufacturer of copper and optical fiber cable products.

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