BAKU, Azerbaijan, May 28. Snam has secured a new 1 billion euro sustainability-linked credit line, aligning with the Group’s Sustainable Finance Framework released in February 2024, Trend reports.
This committed and revolving facility is tied to sustainability targets, with the applicable margin contingent on meeting these targets and a maturity period of three years.
The credit line is provided by five leading banking groups: BNL BNP Paribas, Banco BPM, Crédit Agricole Corporate and Investment Bank, Intesa Sanpaolo (IMI CIB Division), and UniCredit, who are acting as Joint Mandated Lead Arrangers and Bookrunners.
"This new sustainability-linked credit line aims at further integrating our financial strategy with the Group’s sustainability targets and its commitment to achieve carbon neutrality by 2040. Moreover, it contributes to Snam’s sustainable finance target, towards 85 percent of total funding coming from sustainable finance by 2027," said Luca Passa, Snam Chief Financial Officer.