• The loan is structured in two tranches with maturities of three and five years, for a total amount of €200 million, significantly exceeding the initial target volume
• Further major financial transaction linked to the achievement of the Group’s CO₂ emissions reduction targets which follows the Sustainability-Linked Bond issued in October 2023

Milan, 16 July 2024 – MAIRE (MAIRE.MI) successfully raised €200 million through its second Sustainability-linked Schuldschein Loan (a private placement governed by German law).

The senior unsecured loan comprises two tranches with maturities of three and five years, both mainly at variable interest rates. The applicable margin on the 6-month Euribor will be 1.70% and 1.95% respectively for the 3- and 5-year tranches. Additionally, pricing is linked to the achievement of specific targets aimed at reducing the Group’s CO₂ emissions in accordance with the Sustainability-Linked Financing Framework adopted in September 2023[1].

The proceeds will be used for general corporate purposes, primarily for the early repayment of existing facilities, including the ESG-Linked Schuldschein Loan issued in December 2019 for a nominal outstanding amount of €55 million. Further bank facilities are expected to be reimbursed in the coming months, with the aim of optimizing the Group’s average cost of debt.

Following strong demand from investors, the initial target volume was significantly exceeded, with the interest rates being fixed at the low end of the price range. The loan was placed with international banks and financial institutions mainly from Europe, Asia and the Middle East, and has also been supported by Cassa Depositi e Prestiti.

Commerzbank, Credit Agricole “CIB” and Intesa Sanpaolo (Divisione IMI Corporate & Investment Banking) acted as arrangers. Credit Agricole “CIB” acted as sustainability coordinator and Commerzbank is also the paying agent.

Fabio Fritelli, Group CFO, said: “We are delighted to announce the successful placement of this Sustainability-linked Schuldschein Loan, which received an exceptionally strong demand from investors. After the issuance of the Sustainability-linked Bond a few months ago, this continued interest underscores the market’s confidence in MAIRE’s financial soundness and commitment to sustainable growth.”

[1] The loan provides for a margin step-up in the event that the following decarbonization targets set in the Sustainability-Linked Financing Framework are not met by 31 December 2025: (i) 35% reduction of MAIRE Group’s direct and indirect CO₂ emissions (Scope 1 and Scope 2 GHG Emissions) compared to the 2018 baseline; (ii) 9% reduction of CO₂ emissions of MAIRE Group’s suppliers, through the so-called Scope 3 GHG Emissions Intensity in relation to purchased technology-related goods and services, measured as tonnes of CO₂ in relation to value added, compared to the 2022 baseline.