Iren, 150 million sustainability credit line linked to Intesa Sanpaolo

Iren, 150 million sustainability credit line linked to Intesa Sanpaolo

(Teleborsa) – iren inscribed with Intesa Sanpaolo one Term loan line of credit for a value equal to 150 million euros, with a 6-year bullet duration and linked to the fulfillment of sustainability objectives. The operation contributes to further strengthening the liquidity profile, keeping it adequate to the current rating levels, highlights the multi-utility listed in Piazza Affari. The margin of the new credit line is linked to strategic goals in the energy transition and circular economy that were defined in the Iren Group’s Business Plan until 2030 and included in the recently published Sustainable Financing Framework.

In particular, two objectives were chosen among those outlined in the Table: the first concerns the carbon intensity reduction (Scope 1) validated by SBTi, while the second is represented by reduction of losses in the water network. After the success of the 4 Green Bonds already issued by Iren, this new transaction attests to the complete integration of sustainability objectives into the business strategy.

“The signing of this credit line with Intesa Sanpaolo reinforces our commitment to sustainable development, an integral part of our Business Plan – commented theCEO Gianni Vittorio Armani – and confirms Iren’s commitment to consolidating its business model that it considers sustainability as a strategic lever, also of a financial nature for the creation of value for the benefit of all our stakeholders”.