(Alliance News) - Acea Spa announced on Monday the launch of a bond, in the form of a green bond, for a "benchmark" amount of EUR5.00 billion with a term of eight years, under the Green Financing Framework and from the Euro Medium Term Notes program.

The bond will be listed on the Luxembourg Stock Exchange.

As the company explains, proceeds from the issue will be used to finance specific projects that pursue sustainability goals. Specifically, those related to the resilience of the electricity distribution network, energy efficiency, electric mobility, development of the circular economy and increased energy production from renewable sources, and protection of the water resource.

Moody's Investors Service and Fitch Ratings agencies have assigned a rating to the company's long-term debt of 'Baa2' with a Negative outlook and 'BBB+' with a Stable outlook, respectively.

Acea on Monday trades in the green by 0.1 percent at EUR14.33 per share.

By Chiara Bruschi, Alliance News reporter

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