Padania Acque signed a 134,5 million euro loan with a pool of eight banks, coordinated by Intesa Sanpaolo which acted as lender and agent bank. The transaction is a fully amortising loan, expiring in December 2037, which does not provide for the use of guarantees by the shareholders. The financial transaction just concluded by the Integrated Water Service Manager of the Province of Cremona will thus be able to support the 80 million euro of investments planned up to 2023 and the total of 500 million euro planned up to 2043 in the Economic and Financial Plan, approved in December 2020 at the unanimously by the shareholders' meeting. The Padania Acque Plan is among the first in Italy to be financed under the new MTI-3 tariff regulation, i.e. according to the recently updated tariff method for the four-year period 2020-2023 by ARERA, the Energy Regulatory Authority networks and the environment. The operation is also unique in the sector in terms of duration and financial structure.
The pool of banks that financed the operation is made up of Intesa Sanpaolo, UBI Banca (Intesa Sanpaolo Group), Banco BPM, Crédit Agricole Italia, MPS Capital Services Banca per le Imprese, Credito Padano Banca di Credito Cooperativo, Credito Valtellinese and Cassa di Risparmio di Bolzano-Sparkasse which participate with different degrees in the lines of the loan. The top management of Padania Acque worked directly on the structuring of the operation: the President Claudio Bodini, the Chief Executive Officer Alessandro Lanfranchi and the General Manager Stefano Ottolini. «Our water network - declared the President Claudio Bodini - is an invaluable value, every year it must be protected, made more efficient and maintained. For this reason, our company, together with all the municipalities of the province, invests tens and tens of millions of euros every year in plants to improve the quality of our water, one of the best in Europe, and to guarantee its purification in compliance with of our environment. Padania Acque invests 80 euros per inhabitant every year, close to the European average of 100 euros, but far higher than the Italian average of 40 euros; on the other hand we can boast one of the lowest European tariffs: 1,60 euro/1.000 liters against 6 euro/1.000 litres. of Berlin, a sign of an efficient administration and a solid economic reputation».
«This financial operation – he commented the CEO Alessandro Lanfranchi – allows us to capitalize on the trust of the Credit Institutions, giving credit to the high quality work that women and men carry out every day in Padania Acque, at the service of the Cremona area. The strong environmental characterization of the investments will also make it possible to achieve sustainability objectives, fundamental for the protection of water resources, in line with the commitments of the UN 2030 Agenda. Finance for sustainable investments, disbursed to a public manager capable of setting up an industrial plan strongly oriented towards quality and efficiency". Particular satisfaction was expressed by the General Manager of Padania Acque Stefano Ottolini: «the pool of banks that supports us is significantly representative of the national banking sector, with them we have built an operation which, to date, constitutes an unprecedented unicum in the water sector Italian, with particular reference to the duration but also for structural characteristics. At the same time it is a tailor-made project, conceived, reasoned and built on the fundamentals and needs of Padania Acque».
«With this operation, Intesa Sanpaolo and its subsidiary UBI Banca confirm their proximity to businesses
Italian companies, in particular to such an essential and primary sector, concretely demonstrating their desire
support sustainable development and growth.” So commented Michele Sorrentino, Network Manager
Italy of the Global Corporate Department - IMI CIB Division of Intesa Sanpaolo. “Thanks to the agreement of
loan signed in recent days, Padania Acque will be able continue in your own virtuous plan
investments, further improving the quality of the integrated water service for the benefit of the citizens of
own territory".
