Milan, 21 June, 2023 – Edison announces that a new revolving credit facility of 1 billion euro, executed in March 2023 to finance its working capital requirements, is effective as from 20 June, 2023. The facility has been granted by a pool of banks including BNL BNP Paribas, BPER Banca S.p.A., Intesa Sanpaolo S.p.A. and UniCredit S.p.A.
Each of the banks participates to the facility with equal amounts, as Mandated Lead Arranger and Original Lender. Intesa Sanpaolo S.p.A. acts also as Facility Agent and SACE Agent.
The facility is guaranteed by the Italian export credit agency SACE S.p.A. (“SACE”) for 70% of its amount. The guarantee issued by SACE, provided in the context of the measures to protect the Italian energy sector in line with the SupportItalia programme, pursuant to the terms of the “Aiuti Decree”, came into effect further to the publication of the relevant decree by the Ministry of Economy and Finance.
“Thanks to this facility, Edison further strengthens its financial flexibility in a context of high market volatility. It provides Edison with a level of liquidity aligned with its industrial growth ambitions in Italy. The support received by some of the major Italian banks as well as SACE’s demonstrates the level of trust of the Italian financial markets in Edison’s industrial strategy and more broadly in the company as a key player of Italy’s energy security and energy transition plan”, said Ronan Lory, Edison’s Chief Financial Officer.
The facility, which will expire in May 2025, had no impact on the Edison Group’s net financial debt equal to 169 million euros at the end of March 2023.
