(Tiper Stock Exchange) – Prysmiana company listed on Euronext Milan and active in the energy and telecommunications cable systems sector, has subscribed with a pool of leading national and international banks the renewal of a long-term Sustainability-Linked revolving credit line of the value of 1 billion euros.
The credit line, with a five-year term but with the option to extend to 6 and 7 years, will help improve the group’s financial structure, extending the average maturity of its funding sources and maintaining the flexibility offered by the instrument. Furthermore, with the aim of strengthening the integration of ESG factors into the strategy, Prysmian has chosen to include environmental and social indicators among the parameters that determine conditions of the loan, with the renewed revolving credit line which is in fact Sustainability-Linked.
“This renewed credit line further strengthens Prysmian’s financial structure and underlines how the Group now looks to sustainability as a true business driver”, commented CFO Pier Francesco Facchini, adding that “we have also decided to link this credit to important objectives of gender balance and people development, which are fundamental pillars of our strategy”.
The pool of banks who participated include the Bookrunners BPM desk, BNP Paribas, Citibank, Credit Agricole, Eng, Intesa Sanpaolo And Mediobanca. ING is Documentation Agent, Intesa Sanpaolo is ESG Advisor while Mediobanca is Facility Agent.