Rexel reimburses credit line that had been drawn down to face Covid-19 eventualities

Rexel, a worldwide expert in the multichannel professional distribution of products and services for the energy world, announces it has reimbursed the €550m Senior Credit line it had drawn down at the end of March as a conservative measure as the Covid-19 pandemic spread to Europe.

The decision to pay back the drawn-down facility, which is part of an €850 million Senior Credit Agreement, reflects the good results from initiatives we took to adapt to this unprecedented environment and protect the company, with a strong focus on opex management and cash collection, suited to each local situation. These measures include quick adaptation of salaries & benefits, postponement of projects with no short-term payback and the Board decision to refrain from proposing the payment of a dividend with respect to 2019.