we receive e we publish the following press release issued by Terna.
Terna SpA (“Terna”) has signed today a ESG-linked Revolving Credit Facility for a total amount of 2,255 billion euros (the “Revolving Credit Line”).
The Revolving Credit Line, structured in a “committed” form, revolving and ESG-linked, consists in the modification of the previous one revolving credit facility lastly signed on 15 April 2024, in order to provide for the extension of the duration to 5 years from today's date and the modification of the ESG objectives.
The pool of banks participating in the transaction is made up of the same financial institutions involved in the previous revolving credit facility as Joint Mandated Lead Arrangers: Intesa Sanpaolo, BNP Paribas, Banco Santander, Cassa Depositi e Prestiti, Unicredit, SMBC, CaixaBank, and Crédit Agricole Corporate and Investment Bank.
Intesa Sanpaolo SpA acted as agent bank, while Unicredit SpA acted as Sustainability Coordinator.
The Revolving Credit Facility provides for the introduction of specific environmental, social and governance (“ESG”) objectives, linked to a reward/penalty mechanism applied to the contractual provisions relating to the so-called commitment fee and at the margin, further strengthening the integration of sustainability objectives into the company's financial strategy.
The transaction allows Terna to maintain an adequate level of liquidity, consistent with the Group's current rating, consolidating its financial structure and confirming the Company's strong commitment to a model aimed at integrating sustainability as a strategic lever for creating value for all its stakeholders.
