START ROMAGNA: FROM INTESA SANPAOLO AND
POOL OF BANKS, FINANCING FOR DEVELOPMENT
OF GREEN, SUSTAINABLE TRANSPORT
- The €50 million of financing will enable the local public transport company in Romagna to replace 241 vehicles in a sustainable way
- The transaction was supported by Intesa Sanpaolo as Sustainability Coordinator and financing bank together with BPER Banca, in the role of Mandated Lead Arranger, and the BCC Iccrea Group (with a pool of banks formed by BCC Banca Iccrea, BCC Ravennate Forlivese e Imolese, Riviera Banca and Credito Cooperativo Romagnolo).
Milan, 4 October 2022 – Start Romagna, a local public transport company in Romagna, has signed a loan agreement of €50 million with a pool of banking institutions, consisting of Intesa Sanpaolo as Sustainability Coordinator, Mandated Lead Arranger, Coordinator and Agent, along with BPER Banca in the role of Mandated Lead Arranger, and Gruppo BCC Iccrea (with BCC Banca Iccrea, BCC Ravennate Forlivese e Imolese, Riviera Banca and Credito Cooperativo Romagnolo).
The transaction will allow the renewal of the company's bus fleet, with a plan to replace 241 vehicles, or 43% of the total, between 2022 and 2025. The new vehicles, which will be used for service between cities in the Forlì Cesena, Rimini and Ravenna areas, will be powered mainly by methane, liquid methane and hybrid methane, while new all-electric vehicles will be supplied for the urban area.
The total investment will be €78 million, of which €22 million will be self-financed, while the remainder will be allocated through access to public grants, including NRRP-related funds.
The credit line includes an interest-rate component linked to the achievement of specific ESG targets: reduction of pollutant emissions and average annual training hours per employee.
"This deal confirms Start Romagna's commitment to the green development of the cities it serves and to the continuous improvement of passenger comfort, thus ensuring a concrete benefit for citizens and the territory of reference," commented START ROMAGNA Chairman Roberto Sacchetti.
For Intesa Sanpaolo, the transaction was concluded by the IMI Corporate & Investment Banking Division headed by Mauro Micillo.
"We are particularly pleased to have supported Start Romagna's ambitious new project," said Michele Sorrentino, Head of Network Italy at Intesa Sanpaolo's IMI Corporate & Investment Banking Division. "As Intesa Sanpaolo, we renew our support for local companies that intend to pursue ecological transition processes, supporting them at every stage of the journey, especially in a sector such as public transport, which has significant environmental and social impacts. Sustainable mobility is also at the heart of the NRRP-related investments that, as a Group, we are supporting with dedicated initiatives, products and consultancy."
Start Romagna was assisted in the transaction by Marco Polo Advisor and Legance Avvocati Associati.
About Intesa Sanpaolo
Intesa Sanpaolo is Italy’s leading banking group – serving families, businesses and the real economy – with a significant international presence. Intesa Sanpaolo’s distinctive business model makes it a European leader in Wealth Management, Protection & Advisory, highly focused on digital and fintech. An efficient and resilient Bank, it benefits from its wholly-owned product factories in asset management and insurance. The Group’s strong ESG commitment includes providing €115 billion in impact lending by 2025 to communities and for the green transition, and €500 million in contributions to support people most in need, positioning Intesa Sanpaolo as a world leader in terms of social impact. Intesa Sanpaolo is committed to Net Zero by 2030 for its own emissions and by 2050 for its loan and investment portfolios. An engaged patron of Italian culture, Intesa Sanpaolo has created its own network of museums, the Gallerie d’Italia, to host the bank's artistic heritage and as a venue for prestigious cultural projects.
Last updated 4 October 2022 at 16:48