we receive e we publish the following press release issued by Amplifon.
Amplifon (EXM; Bloomberg/Reuters ticker: AMP:IM/AMPF.MI), a global leader in hearing solutions and services, announced that it has signed two new financings sustainability-linked, lasting five years and damping, for a total amount of 250 million euros.
In detail, with UniCredit e Cassa Depositi e Prestiti (CDP) a loan of a total amount of €100 million has been subscribed 200 million euro divided as follows: 100 million euros from UniCredit to support the Group's development initiatives and 100 million euros from CDP which co-financed Amplifon's innovation investments in Italy. The resources from Cassa Depositi e Prestiti will be added to those granted in July last year by the European Investment Bank (EIB) dedicated to innovation in Europe.
Furthermore, Crédit Agricole Italy has financed for 50 million euro, with SACE Future Guarantee, the international implementation of the new Amplifon store format, aimed at providing an immersive and fully personalized experience to consumers, thanks to visual and digital elements integrated into an innovative and sustainable architectural design.
"These loans – comments the CEO of Amplifon Enrico Vita are linked to some of the objectives of our sustainability plan and are part of the path of continuous integration of ESG factors in the Group's operational and financial strategy. With the agreements announced today, the sustainability-linked financing that we have signed from 2021 to today rises to five for a total amount of 850 million euros, demonstrating our ambition to create value for the benefit of all stakeholders".
In line with the Amplifon's sustainability strategy, both financings are linked to specific indicators of the Sustainability Plan, the achievement of which will activate a margin adjustment mechanism applied to individual loans. Through these operations, characterized by particularly favorable conditions, Amplifon further optimizes its financial structure thanks to an even more solid liquidity position, greater diversification of funding sources and an extension of the average residual life of the debt.
White & Case acted as legal advisor to Amplifon SpA, while Clifford Chance acted as legal advisor to the financial institutions in these two transactions.
