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Iren — Capital/Financing Update 2022
May 30, 2022
4243_rns_2022-05-30_34793848-1acd-424c-ac5f-530f43861d47.pdf
Capital/Financing Update
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Iren: signed a Sustainability Linked Term Loan credit line with Cassa Depositi e Prestiti (CDP) for a total amount of €150 million
Reggio Emilia, 30 May 2022 — Iren SpA has signed a Term Loan credit line of €150 million with Cassa Depositi e Prestiti (CDP), with a maturity bullet of 6 years and linked to the achievement of the Group's sustainability objectives.
The Sustainability Linked loan is intended to support the ambitious investment plan envisaged in the 2030 strategy, aimed in particular at reducing climate-changing emissions, the progressive growth in renewables energy production and the rational use of water resources that will support the achievement of the 2030 energy transition and circular economy targets also included in the Group's Sustainable Financing Framework.
The transaction is part of the strengthening of the Group's liquidity structure adjusted to current rating levels and with rate and maturity conditions aligned to Iren's standards.
In addition, the liquidity granted will allow to consolidate the integration of sustainability objectives within the overall business strategy. This will make it possible to combine sustainability and development through the bonus/penalty mechanism linked to the achievement of set targets.
Gianni Vittorio Armani, Chief Executive Officer and General Manager of Iren, commented: "The signing of this credit line with Cassa Depositi e Prestiti once again highlights the complete alignment of sustainability objectives with industrial and financial objectives. Sustainability and the achievement of the set targets are the strategic lever for Iren's value creation and growth over the next decade"
| Iren Group | Images | Investor Relations Area | Iren Overview |
|---|---|---|---|
| Investor Relations Giulio Domma Tel. + 39 0521.248410 [email protected] |
Media Relations Roberto Bergandi Tel. + 39011 5549911 Mob. + 39 335.6327398 [email protected] |
Barabino & Partners Giovanni Vantaggi Tel. +39 02.72023535 Mob. + 39 328.8317379 [email protected] |