(Finance) – Triad Today an Esg-Linked Revolving Credit Facility has subscribed for a total amount of 1.8 billion euros, aimed at refinanating the Esg-Linked Revolving Credit Facility signed on 17 December 2021 for a total amount of 1.65 billion euros.
The rotary credit line, structured in “Committed” form, revolving and ESG -links, consists in the modification of the previous revolving credit facility of 2021, in order to provide for the extension lasting 5 years from today, the increase in the amount and the modification of the ESG indicators.
The banks pool who participated in the operation consists of the same financial institutions involved in the previous Revolving financing line as Joint Mandated Lead Arranger: Unicredit, BNP Paribas, Banco Bpm, Intesa San Paolo, Mediobanca, National Labor Bank.
Unicredit acted as Banca Agent, also playing the role of Sustainability Coordinator. The rotary credit line provides for the introduction of specific environmental, social and governance objectives (“ESG”), linked to a premium/penalty mechanism applied to the contractual provisions relating to the CD Commitment FEE and the margin, strengthening more the integration of the sustainability objectives in the company’s financial strategy.
The operation allows Terna to be able to count on an adequate liquidity to the current level of rating, further strengthening its financial structure to confirm the group’s strong commitment in the introduction of a model aimed at consolidating sustainability as a strategic lever for the creation of value for all its stakeholders.