Italian multinational energy company Enel has signed a €1 billion ($1.17 billion) “Sustainability-Linked Loan” facility agreement.
The loan will help Enel to increase the percentage of renewable energy capacity installed.
The 6-year term loan is supported by a syndicate of six banks, acting as lenders and bookrunners and mandate lead arrangers.
Enel will use the loan to align its operations with the commitment to achieving the United Nations Sustainable Development Goals.
The loan framework is aligned with the International Capital Market Association’s (ICMA) “Sustainability-Linked Bond Principles” and Loan Market Association’s (LMA) “Sustainability-Linked Loan Principles”.
The signing of this loan is in line with Enel’s financial strategy, which is increasingly characterised by sustainable finance as reflected by the objective to achieve a share of sustainable finance sources on total gross debt equal to 43% in 2022 and 77% in 2030.