The loan, closed with the support of BNL Gruppo BNP Paribas, refinances the existing bank debt, has a 5-year tenor and is indexed to sustainability projects
Padua, August 6, 2021 – SIT S.p.A. (SIT:IM) has agreed with a bank syndicate and the support of BNL Gruppo BNP Paribas a Euro 90 million 5-year amortising loan to refinance the existing bank debt and meet the group’s ordinary financial requirements.
The loan’s interest rate is indexed to a sustainability rating (“ESG”) issued by the international agency EcoVadis, highlighting SIT’s firm commitment to sustainability, climate change and energy transition themes.
“Following the issue of an ESG-linked bond and the recent appointment of a new Group sustainability governance structure, this additional transaction underscores SIT’s commitment to projects with sustainability at their core” – stated Federico de’ Stefani, Chief Executive Officer of SIT. “We are very pleased to have converted in just a few months our entire debt portfolio into ESG-linked transactions, tapping into the strong demand among investors for this type of transactions and contributing to steer resources to investments and objectives which are in line with our values”
BNL Gruppo BNP Paribas acted as Facility and Documentation Agent. SIT was supported by Essentia Advisory as financial advisor and by Studio Chiomenti as legal advisor, while Studio Dentons provided legal assistance to the bank syndicate.