(Alliance News) - UniCredit Spa announced on Monday that it has finalized a green loan of EUR73 million in favor of Teike Srl, the third-largest independent pure player in the Italian public lighting sector, wholly owned by Pioneer Infrastructure Partners.

The financing, certified as green in accordance with the "Green Loan Principles" and backed by SACE's green guarantee, is intended to support Teike's organic growth, its strategic acquisitions, and the refinancing of existing debt, the company explained in a statement.

Teike is an energy service company active since 1950, which manages, directly and through its subsidiaries, approximately 160,000 lighting points as part of a portfolio of long-term contracts with over 110 municipalities located in Veneto, Lombardy, Piedmont, Tuscany, Apulia, and Abruzzo, providing public lighting services and smart city solutions.

UniCredit drops 2.2% to EUR71.02 per share.

By Claudia Cavaliere, Alliance News reporter

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