(Alliance News) - Greenthesis Spa announced Monday that it has finalized a new EUR50 million financing agreement with banks Natixis SA, Milan branch, and Intesa Sanpaolo Spa, the former as agent bank and both as lending banks and Mandated Lead Arrangers & Bookrunners. This transaction, reads the company's statement, is aimed "at broadening the financial base in order to be able to support organic investments and acquisitions by external lines."

The financing, Greenthesis points out, is divided into two separate lines of credit: the first, of amortising type and for an amount of EUR35 million, is aimed at financing part of the purchase price of the majority stake in a specific target company, refinancing part of the company's existing financial debt for an amount in the order of about EUR9.5 million, financing the payment, in whole or in part, of the purchase price of future acquisitions and investments; the second, bullet type and in the amount of EUR15 million, is also aimed at financing the payment, in whole or in part, of the purchase price of future acquisitions and further development investments.

Within one year of the closing date, it is also expected that the company and the lending banks will discuss in good faith the possibility of converting the loan into a Sustainability-Linked Loan based on the achievement of certain measurable environmental, social and governance parameters starting from the financial year 2024.

Vincenzo Cimini, Greenthesis Group general manager and finance director, commented on the closing of the transaction as follows, "This financing is the right and coherent corollary to the support of our ambitious strategic development plan and dimensional growth as envisaged by the group's business guidelines. The lines of credit obtained today are aimed at expanding the financial base available to the company in order to be able to support organic investments and acquisitions by external lines, marked, on the one hand, to diversify the types of industrial activities put in place in terms of commercial offerings and their geographical location, and on the other, to create efficient integrations between complementary and synergistic businesses."

Greenthesis' stock on Monday closed down 2.9 percent at EUR0.93 per share.

By Chiara Bruschi, Alliance News reporter

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