Acque Bresciane srl SB Benefit Company ever 'greener' and more solid

• The additional €55 million line for circular economy and sustainable development projects has been made official.
  
• The transaction was made possible thanks to a pool of Banks coordinated by Intesa Sanpaolo as Sustainability Coordinator and made up of BNL BNP Paribas, Banco BPM and BPER.
• The financing comes in addition to the €202 million granted in October 2021

Milan/Brescia, 30 September 2024 - Acque Bresciane, the sole operator of Brescia's water service and a 100% publicly owned company, has agreed to an additional €55 million line with a pool of banks coordinated by Intesa Sanpaolo as Sustainability Coordinator and comprising BNL BNP Paribas, Banco BPM and BPER Corporate & Investment Banking.

The loan is in addition to the €202 million line granted in October 2021 by Intesa Sanpaolo, CDP, BNL BNP Paribas, Banco BPM, BPER Corporate & Investment Banking and BCC Banca Iccrea.

The additional credit line, aimed at combining corporate development and environmental sustainability, is characterised by being a 'Sustainability Linked Loan' with a pricing mechanism linked to the achievement of specific ESG targets, such as the reduction of pollutant emissions and a decrease in water losses.

In addition, the main projects of the Group's ESG strategy include the construction of plants with a positive environmental impact, the design of new works and the redemption of the value of plants and networks from ASVT S.p.A., a company that has reached the end of its concession and was 'acquired' by Acque Bresciane in May 2023.

For Intesa Sanpaolo, the transaction was structured by the IMI Corporate & Investment Banking Division headed by Mauro Micillo.

Acque Bresciane, a Benefit Company since 2022, confirms its public nature attentive to the dynamics of sustainability, as well as consolidation in the management of the integrated water service. Since its inception, the company has seen a significant increase in investments from around €22 million in 2018 to almost €60 million in 2023.

"The funding, disbursed over two years, will enable the implementation of interventions in line with the objectives of the 2030 Agenda", explained Pierluigi Toscani, Chairman of Acque Bresciane, "which include projects on the circular economy, environmental sustainability, and efficient use of resources and energy. These principles are matched with concrete actions such as the upgrading of waste-water collection and treatment plants. For the aqueducts segment, modernisation and new constructions are planned, with the aim of further improving the quality of tap water, encouraging a plastic-free approach. As regards the circular economy, the re-use of purified water and the reduction of sludge, thanks to innovative bio-drying techniques, are in the forefront.

"We are constantly close to the realities of our territory to accompany them in their development and growth projects in a sustainable manner", commented Michele Sorrentino, Head of the Italian Network of the IMI CIB Division of Intesa Sanpaolo. This financing renews our support for Acque Bresciane, enabling works and services to be carried out for the entire community. As a group, we support the business world by offering advice and innovative credit instruments that reward concrete actions that improve the sustainability profile”.

The Intesa Sanpaolo Group, led by CEO Carlo Messina, has long been at the forefront of accelerating the transition to a low-emission economy with specific financing ceiling limits for individuals and businesses and an increasingly wide range of sustainable investment products. Between 2021 and the first half of 2024, approximately €59 billion of the €76 billion of new credit available to support the green economy, circular economy and ecological transition in connection with the 2021-2026 National Recovery and Resilience Plan, was disbursed.

Within the scope of the transaction, legal assistance was provided by Studio Legance Avvocati Associati (Energy & Infrastructure Department), and technical assistance by Agenia s.r.l..

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Media Relations

Intesa Sanpaolo

Corporate & Investment Banking and Governance Areas

stampa@intesasanpaolo.com