- The credit line, expiring in May 2028, provides MAIRE with greater financial flexibility and further diversifies its funding sources
- L’operation will make it possible to increase the share of the Group’s financing linked to the achievement of CO2 emissions reduction objectives
- MAIRE has also arranged for the voluntary early repayment of the credit line assisted by SACE’s “Garanzia Italia” for €182.5 million, further optimizing its financial structure
Milan, 17 October 2024 – MAIRE (MAIRE.MI) has signed a new Sustainability-linked credit line expiring in May 2028, for a total amount of €200 million. The revolving credit line complies with the Sustainability-Linked Financing Framework adopted in September 2023 and is linked to specific annual objectives aimed at reducing the Group’s CO2 emissions, the achievement of which determines the margin applicable to the loan.
The credit line was granted by eight leading banking groups, including Banca Monte dei Paschi di Siena, Banco BPM, Bank ABC, BdM Banca, BPER, Intesa Sanpaolo, Mediocredito Centrale and UniCredit. Intesa Sanpaolo (IMI CIB Division) also acted as sustainability coordinator and facility agent.
The operation is in line with the strategy aimed at optimizing the composition of medium-long term debt and reducing its overall cost, while improving financial flexibility. As part of this strategy, MAIRE has also arranged for the voluntary early repayment at the end of September of the credit line assisted by SACE’s “Garanzia Italia”, stipulated in July 2020, for a residual amount of €182.5 million.
Fabio Fritelli, Group CFO, commented: “This new revolving credit line, the subscription of which is a further demonstration of the support for MAIRE’s strategy from the banking sector, will allow us to increase our financial flexibility and diversify our funding sources. Furthermore, it adds to the other two sustainability-linked financing operations that we have carried out in the last year, marking a further step forward on the path towards integrating emissions reduction objectives into our financial management.”
