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Ferrari secures new €350M credit facility

Italian luxury carmaker Ferrari NV has signed a new credit facility for €350 million of unsecured committed revolving credit loans with a group of 12 banks.

The new credit facility has a five-year tenor with two further one-year extension options. It replaces and cancels Ferrari's €500 million committed revolving credit facility due November 2020.

Ferrari will use the new loan facility for general corporate and working capital purposes.