INTESA SANPAOLO SUPPORTS AQUAFIL CIRCULAR ECONOMY PROJECTS WITH A LOAN OF 30 MILLION EUROS
- Giulio Bonazzi, Chairman and CEO of Aquafil: “The commitment of the banking and lending sector to environmental sustainability and green economy is great news for businesses and the Country. This will provide a systemic impetus and achieve an acceleration toward circular business models.”
- Michele Sorrentino (Head of Italy Network of Intesa Sanpaolo's IMI CIB Division): “This transaction once again demonstrates how companies in the manufacturing sector can address environmental challenges in innovative ways. In order to boost the Circular and Green Economy, Intesa Sanpaolo has long been supporting companies aiming to improve their sustainability profile with a credit facility dedicated to the Circular Economy which, since its launch, has financed projects amounting to €5.7 billion”.
Milan/Arco (TN), January 11, 2022 - Intesa Sanpaolo and Aquafil, one of the leading nylon producers in Italy and worldwide, listed on the Euronext STAR segment of Borsa Italiana, have signed a financing agreement for an amount of €30 million aimed at achieving specific goals related to the circular economy.
The transaction consists of a 6-year floating rate credit line with a pricing mechanism linked to the achievement of specific sustainability and circular economy targets. These goals include a significant improvement in the environmental impact through a reduction in water consumption and in waste materials through the recovery and reuse of waste.
The financing is part of the Aquafil Group's strategy, which for years has made sustainability and circular economy key elements of its development.
The transaction was concluded by Intesa Sanpaolo's IMI Corporate & Investment Banking Division, led by Mauro Micillo with the support of the Circular Economy Desk of Intesa Sanpaolo Innovation Centre, a company dedicated to innovation and to the spread of circular economy.
“Aquafil embodies manufacturing excellence nationally and internationally; it has been able to embrace issues related to sustainability for a long time, making it a linchpin of its business and its development - so Michele Sorrentino, Head of Italy Network of Intesa Sanpaolo's IMI Corporate & Investment Banking Division. This transaction once again demonstrates how companies in the industry can address environmental challenges in innovative ways. In order to boost the Circular and Green Economy, Intesa Sanpaolo has long been supporting companies aiming to improve their sustainability profile with a credit facility dedicated to the Circular Economy which, since its launch, has financed projects amounting to €5.7 billion (as at 30 September 2021)”.
“We are happy that Intesa Sanpaolo has identified us as an economic entity to support in the efforts we have been making for years to make the supply chain in which we operate circular, both upstream and downstream” commented Giulio Bonazzi, Chairman and CEO of Aquafil.
Media Relations, Corporate & Investment Banking and Governance Areas
Last updated 11 January 2022 at 13:09