(Alliance News) - ATON Green Storage Spa announced Wednesday that it has approved new bank financing transactions.

Specifically, the board plans to enter into a loan with Banco BPM Spa for a maximum amount of EUR2.0 million, plus related hedging, with a term of 60 months, of which six are pre-amortization, to be repaid in quarterly installments and secured by MCC guarantee.

In addition, there is a loan with BPER Banca Spa for a maximum amount of EUR6.0 million, plus related coverage, with a duration of 60 months, to be repaid in monthly installments and covered by an EIF guarantee.

And of a loan with UniCredit Spa for a maximum amount of EUR4.0 million, plus related hedging, with a term of 60 months, to be repaid in quarterly installments and covered by MCC guarantee.

"In relation to the reasons underlying the banking transactions, these are aimed at participating in tenders for medium to large photovoltaic and storage plants, as these are activities that may require the anticipation of significant purchases and therefore with related potential temporary cash requirements," the company explained.

ATON Green Storage's stock is up 1.9 percent at EUR5.40 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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