FERRARI N.V. SIGNS A NEW SYNDICATED REVOLVING CREDIT FACILITY
Rhea-AI Summary
Ferrari (NYSE: RACE) announced a new EUR 350 million unsecured committed revolving credit facility signed on 3 December 2025 with a syndicate of 12 banks.
The New RCF has a five-year tenor and two one-year extension options exercisable on the first and second anniversaries subject to bank approvals. It replaces the prior EUR 350 million RCF due December 2026, which has been cancelled. The company said the facility is for general corporate and working capital purposes and provides a lower cost of capital versus the prior facility while confirming broad international bank support.
Positive
- Committed liquidity of EUR 350 million
- Tenor of 5 years improves medium-term liquidity visibility
- Syndicate of 12 banks confirms broad relationship support
- Company reports a lower cost of capital versus prior RCF
Negative
- Extension options require each bank’s approval, adding renewal uncertainty
News Market Reaction
On the day this news was published, RACE gained 1.88%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
While RACE was down 3.01%, major auto peers like GM, F, HMC, STLA, and LI all showed positive moves between 0.34% and 1.83%, indicating today’s weakness was stock-specific rather than sector-driven.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Dec 09 | Buyback update | Positive | -2.0% | Reported tranche buybacks and updated treasury share totals. |
| Dec 03 | Credit facility | Positive | +1.9% | Announced new EUR 350M lower-cost revolving credit facility. |
| Dec 03 | Partnership renewal | Positive | +1.9% | Renewed multi-year partnership with Philip Morris International. |
| Dec 01 | Buyback update | Positive | -1.3% | Detailed Eighth Tranche purchases in long-term buyback program. |
| Nov 24 | Buyback update | Positive | -2.0% | Reported progress under Euro 360M eighth-tranche buyback. |
Recent buyback updates tended to coincide with modest negative moves, while strategic and financing announcements, including this new facility and the PMI partnership, saw positive price reactions.
This announcement of a new EUR 350 million revolving credit facility followed a series of capital return and partnership updates. Since late November 2025, Ferrari has repeatedly reported progress on its multi-year buyback program totaling nearly €2 billion and reaching over 16.6 million treasury shares. Those buyback reports were followed by mildly negative price moves, whereas the renewed multi-year partnership with Philip Morris International and this new, lower-cost credit facility both coincided with positive reactions around December 3, 2025.
Market Pulse Summary
This announcement detailed a new EUR 350 million unsecured revolving credit facility with a five-year tenor, two potential one-year extensions, and a lower cost of capital than the prior line. It replaces an existing facility of the same size due in December 2026, maintaining liquidity for general corporate and working capital needs. Investors may monitor how this financing complements Ferrari’s ongoing buyback program and recent long-term partnership renewals when assessing capital structure and flexibility.
Key Terms
syndicated revolving credit facility financial
unsecured financial
working capital financial
tenor financial
AI-generated analysis. Not financial advice.
Maranello (Italy), 3 December 2025 – Ferrari N.V. (NYSE/EXM: RACE) (“Ferrari” or the “Company”) announces that it has signed a
The New RCF, entered into with a group of twelve banks, has a five-year tenor with two further one-year extension options, exercisable on the first and second anniversary of the signing date on Ferrari’s request and on each bank’s approval for its participation.
This facility replaces the
The New RCF provides a lower cost of capital as compared to the prior facility and confirms the support that Ferrari receives from a large panel of international relationship banks.
About Ferrari
Ferrari is one of the world’s leading luxury brands, encompassing racing, sports cars and lifestyle. In
each of these three souls, the Prancing Horse is a symbol of exclusivity, innovation and cutting-edge
performance. The brand’s heritage and global recognition are closely associated with its Formula 1
racing team, Scuderia Ferrari, the most successful in the sport’s history. Since the inaugural World
Championship in 1950, Scuderia Ferrari has claimed 16 Constructors’ and 15 Drivers’ world titles.
From its home in Maranello, Italy, Ferrari designs, engineers, and produces some of the world’s most
iconic and recognisable luxury sports cars, sold in over 60 markets worldwide. In lifestyle, Ferrari
designs and creates a selection of personal luxury goods, collectibles and experiences that embody
the brand’s elevated style and passion.
Forward Looking Statements
This document contains forward-looking statements. These statements may include terms such as “may”, “will”, “expect”, “could”, “should”, “intend”, “estimate”, “anticipate”, “believe”, “remain”, “continue”, “on track”, “successful”, “grow”, “design”, “target”, “objective”, “goal”, “forecast”, “projection”, “outlook”, “prospects”, “plan”, “guidance” and similar expressions. Forward-looking statements are not guarantees of future performance. Rather, they are based on the Ferrari Group’s (hereinafter, the “Group”) current expectations and projections about future events and, by their nature, are subject to inherent risks and uncertainties. They relate to events and depend on circumstances that may or may not occur or exist in the future and, as such, undue reliance should not be placed on them. Actual results may differ materially from those expressed in such statements as a result of a variety of factors described in the sections entitled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations of the Group” in the Company’s annual and quarterly reports filed with the U.S. Securities and Exchange Commission, which are available on Ferrari’s website (https://www.ferrari.com/en-EN/corporate). Any forward-looking statements contained in this document speak only as of the date of this document and the Company does not undertake any obligation to update or revise publicly forward-looking statements. Further information concerning the Group and its businesses, including factors that could materially affect the Company’s financial results, is included in the Company’s reports and filings with the U.S. Securities and Exchange Commission, the AFM and CONSOB.
For further information:
Media Relations
tel.: +39 0536 949337
Email: media@ferrari.com
Attachment
FAQ
What amount and type of credit facility did Ferrari (RACE) sign on December 3, 2025?
What is the tenor and extension structure of Ferrari's new RCF (RACE)?
Which banks participated in Ferrari's syndicated RCF (RACE) and what does that indicate?
What did Ferrari say the new EUR 350m RCF will be used for (RACE)?
How does Ferrari's new RCF compare to the prior facility due December 2026 (RACE)?
