Unicredit has signed a minibonds sustainability-linked value of four million euros issued by Brescian initiatives (Inbre), a company active in the production of electricity from renewable sources.
The bond issue consists of a total of 40 bonds with maturity dates at six years old, including six months of pre-amortisation. Furthermore, the securities are of the full amortising type and provide for a variable rate coupon indexed to the three-month Euribor with 2,25% bonus.
The minibond includes incentives and aims to raise resources to allow Iniziative Bresciane to adopt new measures by 2024 to mitigate the ecological impact of their activities, with the aim of compensating for it and restoring the balance of the ecosystem in the areas where they are present hydroelectric plants of the group.
Thanks to the 40 million coming from Unicredit, Inbre will also carry out a series of projects aimed at actively restoring, reconnecting or recreating river habitats natural, "in order to make a net positive contribution to the improvement of the ecological condition of the river areas and surrounding areas", reads the Unicredit note.
Not only that: with the proceeds of the bond loan, Iniziative Bresciane will also install electric charging stations in some local units, with the aim of promoting the sustainable mobility.
The Bank then informs that together with the loan "an ESG Interest Rate Swap was negotiated which allows the company to mitigate the risk deriving from the increase in interest rates with a mechanism for reducing the fixed rate of the transaction linked to the achievement of the objectives mitigation, compensation and ecological restoration".
The chairman of the board of directors of Inbre, Battista Albertani, explains that "the transaction is part of a broader development program in the hydroelectric sector" and "will consolidate the company's sustainable growth through a reward system linked to the achievement specific goals".
