The multi-utility from Veneto Veritas announced that it has concluded the placement of a non-convertible and unsecured bond loan for a total amount of 100 million euro. The operation is intended to support the company's investment plans.
The newly issued bond has an annual fixed rate of 3,25% and has a 7-year maturity. In detail, it is a "Sustainability-Linked Bond” linked to the achievement and maintenance by the company of specific ESG sustainability standards.
The operation was completed by Unicredit, intervening in the dual role of sole bookrunner and ESG Structuring Advisor. “UniCredit's deep knowledge of the market and its constant presence among the leading banks in the sustainable finance sector, combined with the solid economic-financial indicators of the Veritas Group, have generated strong interest and attracted demand from a diverse panel of Italian (55%) and international (45%) institutional investors”, reads the Veritas note.
Vladimiro Agostini, president of Veritas, declared: “We are pleased to see the interest of bond investors confirmed in our activities, all dedicated to the protection of the environment and its preservation. In fact, this bond will certify Veritas' commitment to pursuing sustainable development, in particular that dedicated to essential public services".Luisella Altare, North East Regional Manager of Unicredit commented: "The success of the Veritas bond issue derives not only from the recognized seriousness and reliability of the issuer, but also from Unicredit's ability to enhance its dual nature as a commercial bank, with solid and deep-rooted relationships with the main stakeholders in the area , and a leader in facilitating companies' access to the capital market. I also like to underline the attention to sustainability issues that unites us at Veritas and which has recently led us to define new ESG targets as part of our commitment to the transition towards a sustainable economy”.
