Prometeon Tyre Group S.r.l., advised by Pedersoli Studio Legale, entered into a Sustainability Linked Loan in an overall amount of 350 million Euro.
The syndicate of banks, which granted the loan, advised by Linklaters, was led by ING Bank N.V., Milan Branch as Global Coordinator and Sustainability Coordinator, as well as ING Bank N.V., London Branch as Facility Agent and includes Agricultural Bank of China (Luxembourg) S.A., China Construction Bank (Europe) S.A., Natixis S.A, Bank of America Europe DAC, Arab Banking Corporation S.A. and Barclays Bank Ireland PLC.
The loan, consisting of a Euro 200 million term loan and a Euro 150 million Multicurrency Revolving Credit Facility, has a three-year term that may be extended for one year and it is aimed at refinancing the existing indebtedness and finding Prometeon’s general corporate purposes, including new investments.
In line with the Sustainability-Linked Financing Framework, the pricing of the loan is linked to the sustainable policies adopted by Prometeon Group, which has always been committed to these issues and active in many initiatives relating to its corporate, environmental, financial and governance responsibility policies, as part of its strategic concept of sustainable growth.
The Pedersoli team was composed of Maura Magioncalda (equity partner), Alessandra De Cantellis (partner), Enrico Morolli (associate) and Mattia Longo.
The Linklaters team was composed of Andrea Arosio (partner), Alessandra Ortelli (counsel) and Filippo Azzano (associate).