MAIRE TECNIMONT CONFIRMS ITS COMMITMENT TO SUSTAINABILITY BY FINALIZING AN ESG-LINKED SCHULDSCHEIN LOAN

  • This €62,5 million loan is divided into two tranches based on duration and rate;
  • The cost will also be subject to downward adjustments related to the achievement of sustainability objectives, in line with the Group’s commitment to the Energy Transition.

Milan, December 13th, 2019 – Maire Tecnimont continues its Green Acceleration project, launched in 2018, by finalizing a loan aimed at supporting the Group’s investments in its green technologies.

The instrument, an “ESG-Linked Schuldschein Loan”, has a nominal value of €62.5 million, is divided into two tranches with an average duration of approximately 5 years, has a bullet payment, and an average interest rate of approximately 2.3%. The cost may vary, including downwards, in relation to the achievement of the Group’s CO2 emission reduction targets.

A portion of the loan, equal to €20 million, will be used to refinance an existing bond, leading to reduction in the rate of more than 110 bps and to an extension of the maturity by about 3 years.

The initiatives aimed at mitigating the climate change, in line with the Group’s commitment to energy transition, are linked to the following types of emissions:

  • Emissions deriving from activities directly controlled by the Group (e.g. industrial activities of plastic recycling and activities in green chemistry);
  • Indirect emissions due to the production of energy purchased and used by the Group (e.g. energy efficiency measures);
  • Other indirect emissions (e.g. savings achieved thanks to the implementation of the “Smart Working” program and incentives aimed at reducing commuting).

This transaction confirms the Group’s commitment to the United Nations Sustainable Development Goals (“SDGs”), by supporting the transition to an economy based on the use of renewable resources.

In this context, the Group set up NextChem, the company that develops and manages technological initiatives to support the Energy Transition and Green Chemistry. NextChem would like to be the  partner of choice for the industrialization of technological innovations that contribute to the reduction of CO2 emissionoriginating from production and processing activities.

Pierroberto Folgiero, Group’s CEO, commented: “I am very proud of this transaction, which confirms the efforts made by our Group to undertake and carry out virtuous behaviors in order to contribute to a responsible growth and to achieve a sustainable development.”

As part of the transaction, Maire Tecnimont was assisted by Banca IMI and UniCredit Bank AG as arranger banks.

Maire Tecnimont SpA

Maire Tecnimont S.p.A. is a company listed on the Milan stock exchange. It heads an industrial group (the Maire Tecnimont Group) that leads the natural resources processing sector (plant engineering in the oil&gas downstream industry, with specific technological and execution capabilities). Through its subsidiary NextChem the Group operates in the field of Green Chemistry and technologies supporting the energy transition. The Maire Tecnimont Group operates in approximately 45 different countries, numbering around 50 operative companies and a workforce of more than 6,300 employees, along with approximately 3,000 additional Electrical & Instrumentation professionals. For more information: www.mairetecnimont.com.

MAIRE TECNIMONT
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