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Prysmian: €1.2 billion sustainability-linked term loan signed

Prysmian: €1.2 billion sustainability-linked term loan signed

Categories: Corporate

Esg KPIs include net zero emissions, gender diversity and sustainable supply chain
CFO Facchini “we are strengthening our financial structure with a focus on sustainability”

Milan, Italy   -   07/14/2022 - 1:31 PM   -  PRICE SENSITIVE

Prysmian Group, world leader in the energy and telecom cable systems industry, has entered into a €1.2 billion medium-term sustainability-linked loan disbursed today by a pool of leading Italian and international banks. The loan is mainly intended to refinance the €1 billion medium-term term loan received in 2018.

With the aim of strengthening the financial structure and the integration of ESG factors into the Group’s strategy, Prysmian Group has chosen to include important environmental and social KPIs among the parameters that determine the loan conditions. The Sustainability-Linked Term loan is in fact also linked to the decarbonisation targets already defined by the Group (annual GHG emissions from 2022 to 2026), to the ratio of female white collars and executives hired to total Group hires, and to sustainability audits performed in the supply chain.

“I am very proud of this transaction that strengthens Prysmian Group's financial structure and confirms the commitment and discipline regarding the pursuit of ESG objectives such as the reduction of emissions, gender balance and supply chain sustainability — commitments made through our Climate and Social Ambition,”

stated Chief Financial Officer Pier Francesco Facchini.

“The participation of the main relationship banks in this loan is a reason for great satisfaction and confirms the credit system’s confidence in the Group’s performance and in its ability to create sustainable value,"

stated Giovanni Zancan, Prysmian Group Finance SVP.

The pool of banks that participated in the transaction includes the bookrunners Banco BPM, BNP Paribas, Crédit Agricole CIB, ING, Intesa Sanpaolo and Mediobanca. Crédit Agricole CIB acted as ESG Coordinator and Documentation Agent, and Intesa Sanpaolo as Facility Agent.

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