(Alliance News) - Snam Spa announced Tuesday that it has signed a new Sustainability-linked credit line, totaling EUR1 billion, that complies with the group's new Sustainable Finance Framework published last February.

The revolving credit line has a maturity of three years and is linked to specific sustainability targets whose achievement by Snam determines the margin applicable to the loan.

The credit line was granted by five leading banking institutions: BNL BNP Paribas, Banco BPM, Crédit Agricole Corporate and Investment Bank, Intesa Sanpaolo Divisione IMI CIB and UniCredit, which acted as Joint Mandated Lead Arrangers and Bookrunners.

"This new Sustainability-linked credit facility aspires to further integrate our financial strategy with the group's sustainability targets and the company's commitment to achieve carbon neutrality by 2040. In addition, it contributes to the goal of achieving 85 percent of total funding from sustainable finance by 2027," said Luca Passa, Snam's Chief Financial Officer.

Snam gives up 0.4 percent to EUR4.37 per share.

By Chiara Bruschi, Alliance News reporter

Comments and questions to redazione@alliancenews.com

Copyright 2024 Alliance News IS Italian Service Ltd. All rights reserved.