La Doria, an Italian company specialized in production of tomato products, ready-to-eat sauces, fruit drinks and preserved legumes and also present in large-scale foreign distribution, has closed an agreement with Intesa Sanpaolo for a 10 million euro loan, with a 7-year maturity. The amount will be used to achieve specific targets related to sustainability. The operation is managed by the IMI Corporate & Investment Banking Division of Intesa Sanpaolo led by Mauro Micillo: the interest rate is indexed to the Euribor and is characterized by a pricing mechanism linked precisely to the achievement of specific objectives in the ESG (Environmental , Social, Governance).
The loan therefore allows La Doria to be able to count on one liquidity to support the Investment Plan and confirms the company's strong commitment to introducing a model aimed at increasingly consolidating sustainability as a strategic lever for the creation of value for all its stakeholders. Intesa Sanpaolo also supported La Doria through a hedging transaction aimed at hedging the company from exposure to the risk of fluctuations in interest rates linked to the loan. The hedging strategy used envisages a reward mechanism linked to the achievement of the same ESG targets envisaged in the loan. In fact, the ESG-linked Interest Rate swap provides for a reduction in the fixed rate paid by the Company based on the achievement of these objectives.
“The agreement with an Italian excellence like La Doria demonstrates our continuous support to the Italian entrepreneurial fabric – he declares Mauro Micillo, Chief of the IMI Corporate & Investment Banking Division of Intesa Sanpaolo. The operation confirms the Group's commitment in the field of sustainable finance, in particular in support of companies that undertake a virtuous path in terms of ESG. Furthermore, the product innovation channel constitutes one of the pillars of the Division's activity as it makes it possible to expand the application of even complex strategies such as interest rate hedging and to associate them with incentive systems for excellent ESG policies" .
