Global law firm White & Case LLP has advised Acea S.p.A., one of Italy's main multi-utility providers, on its first €900 million green bond issuance in two tranches.
The first tranche of €300 million 0% fixed rate notes is due 2025, with the second tranche of €600 million 0.25% fixed rate notes due 2030. The notes have been issued under Acea's €4 billion Euro Medium Term Note Programme, listed on the Luxembourg Stock Exchange and offered and sold pursuant to Regulation S under the US Securities Act.
The proceeds will be used to finance specific projects included in Acea's 2020-2024 business plan that pursue sustainability objectives included in its recently published green financing framework.
Crédit Agricole and UniCredit acted as Green Structuring Advisors, with Barclays, BBVA, BNP Paribas, Credit Agricole Cib, Citi, Credit Suisse, IMI-Intesa Sanpaolo, MPS Capital Services, Natixis, Société Générale and UniCredit acting as joint bookrunners.
The White & Case team that advised on the transaction comprised partners Michael Immordino (London & Milan) and Ferigo Foscari (Milan), associate Pietro Magnaghi (Milan) and lawyer Olga Primiani (Milan).
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