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Iren — Capital/Financing Update 2022
Apr 21, 2022
4243_rns_2022-04-21_c1990dab-4fe1-4fcf-ac8e-987266fcff8b.pdf
Capital/Financing Update
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PRESS RELEASE
Iren: signed a Sustainability Linked Term Loan credit line with Intesa Sanpaolo for a total amount of €150 million
Reggio Emilia, 21 April 2022 — Iren SpA has signed a Term Loan credit line of €150 million with Intesa Sanpaolo, with a maturity bullet of 6 years and linked to the achievement of the Group's sustainability objectives.
The operation contributes to a further strengthening of the liquidity profile, keeping it adequate to current rating levels; it also presents very interesting market conditions like contractual and duration, in line with the Group's standards.
The margin of the new credit line is linked to strategic targets in the field of energy transition and circular economy that have been defined in the Iren Group's 2030 Business Plan and included in the recently published Sustainable Financing Framework.
The new Framework adopted, combining the dual approach of Use of Proceeds and Sustainability Linked, outlines the guidelines of Iren's commitment to sustainable finance and further clarifies the link between the sustainable strategy and the consequent financial strategy adopted.
Two objectives were chosen among those outlined in the Framework: the first concerns the reduction of the carbon intensity (Scope 1) validated by SBTi, while the second is represented by the reduction of water network losses. The two indicators contribute to the achievement of SDGs 6, 7 and 13 of the United Nations and will be achieved thanks to the investments foreseen in the plan, which, in addition to the reduction of greenhouse gas emissions and the progressive growth in renewables, will support the rational use of water resources.
Following the success of the 4 Green Bonds already issued by Iren, this new operation also demonstrates the complete integration of sustainability objectives in the business strategy, which aims to combine sustainability and development through the mechanism of premium/penalty linked to the achievement of set targets, and bears witness to the Group's role of growth in sustainable finance.
| 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] |
Gianni Vittorio Armani, Chief Executive Officer and General Manager of Iren, commented: "The signing of this credit line with Intesa Sanpaolo reinforces our commitment to sustainable development, an integral part of our Industrial Plan, and confirms Iren's commitment to consolidating its business model, which considers sustainability as a strategic driver, including of a financial nature, for the creation of value to the benefit of all our stakeholders".
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. +39328 8317379 [email protected]