(Finance) – Iren subscribed with Intesa Sanpaolo a Term Loan credit line for an amount equal to 150 million euros, with a bullet duration of 6 years and linked to the achievement of sustainability objectives. The transaction contributes to a further strengthening of the liquidity profile by keeping it adequate at current rating levels, underlines the multiutility listed on Piazza Affari. The margin of the new credit line is linked to strategic targets in the energy transition and circular economy which have been defined in the Iren Group’s Business Plan to 2030 and included in the recently published Sustainable Financing Framework.
In particular, two objectives have been chosen from those outlined in the Framework: the first concerns the reduction of carbon intensity (Scope 1) validated by SBTi, while the second is represented by the reduction of water network losses. After the success of the 4 Green Bonds already issued by Iren, this new transaction testifies to the complete integration of the sustainability objectives into the business strategy.
“The signing of this credit line with Intesa Sanpaolo strengthens our commitment to sustainable development, an integral part of our Business Plan – commented theCEO Gianni Vittorio Armani – and confirms Iren’s commitment to the consolidation of its business model which it considers the sustainability as a strategic lever also of a financial nature for the creation of value for the benefit of all our stakeholders “.