Pirelli extends credit line one year to 2011

Newswire

MILAN, Dec 21 (Reuters) - Italian diversified group Pirelli has extended a 1-billion-euro ($1.32 billion) revolving credit line by one year to 2011, it said on Thursday. The extension is aimed at improving Pirelli's financial structure, it said in a statement. The credit line with a pool of international banks was launched in 2003 and renegotiated in 2005. Lead arrangers are Barclays Capital, BNP Paribas, HSBC Bank, J.P. Morgan and Royal Bank of Scotland.

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