Infrastructure: Acque Bresciane, loan of €202 million
to support sustainable development plans and
circular economy projects



The loan was syndicated by Intesa Sanpaolo, BNL Gruppo BNP Paribas, Banco BPM, BPER, Iccrea Banca and Cassa Depositi e Prestiti

Brescia, 9 November 2021 - Acque Bresciane, public company manager of Brescia's water service, has signed a €202 million loan agreement with a pool of banks and Cassa Depositi e Prestiti aimed at combining corporate development and environmental sustainability. The lenders are Intesa Sanpaolo, which acted as Sustainability Coordinator and Agent Bank for the pool composed of BNL Gruppo BNP Paribas, Banco BPM, BPER and Iccrea Banca.

The deal envisages three different lines of credit: a tranche of €95 million structured as a green loan, maturing in 2036, aimed at covering the green investments of the Business Plan; a tranche of €40 million, also maturing in 2036, intended for other investments and to support the process of extending the pool of municipalities managed to the entire province of Brescia; and a tranche of €67 million, maturing in 2029, to refinance past debt. The green loan, linked to investments with a positive environmental impact and a view to sustainability, also translates into savings on financial charges for the Company, which is entirely public, with positive consequences for citizens.

"The loan, disbursed over four years, will allow the implementation of projects in line with the objectives of the 2030 Agenda," explained Gianluca Delbarba, President of Acque Bresciane, "which include circular economy, environmental sustainability, efficient use of resources and energy projects." These principles correspond to concrete actions, starting with the resolution of EU infringement procedures due to the absence or inadequacy of wastewater collection and treatment facilities. For the waterworks segment, modernisation and new constructions are planned, with the aim of further improving the quality of tap water, encouraging plastic-free behaviours. In terms of the circular economy, the focus is on the re-use of purified water and the reduction of sludge, thanks to innovative bio-drying techniques.

"This important loan to Acque Bresciane confirms Intesa Sanpaolo's ongoing support for the Italian economy, in particular to strengthen such an essential, primary sector, thus concretely benefiting citizens and the community," commented Michele Sorrentino, Head of Network Italy in the IMI Corporate & Investment Banking Division of Intesa Sanpaolo led by Mauro Micillo. The deal, structured in a pool with the main banks that support the Company, used financial resources deriving from the funds intended for companies investing in circular projects and initiatives with innovative methods."

"We are pleased to be able to finance Acque Bresciane's investment plan, which will enable the company to complete its objectives of sustainable management of the integrated water cycle," commented Paolo Calcagnini, Deputy General Manager and CBO of Cassa Depositi e Prestiti. "This deal, concluded in a pool with some of Italy's leading banks, confirms Cassa Depositi e Prestiti's support for sustainable projects, consolidating the good working relationship it has built up with local communities and stakeholders."

The pool of banks was assisted by the law firm Legance Avvocati Associati, while the Company was assisted by the law firm Osborne Clarke.

Intesa Sanpaolo
Media Relations