(Alliance News) - City Green Light, a company active in the field of public lighting, energy efficiency and smart city services, has obtained from a pool of financial institutions, about EUR200 million to support its growth plan and investments in energy efficiency and digitalization, including through new business and through M&A transactions.

In detail, the lenders involved in the transaction, partially assisted by EURSACE's Green Guarantee for EUR96 million, are Intesa Sanpaolo Spa, which through the IMI Corporate & Investment Banking Division acted as Lender Coordinator, Bookrunner, Mandated Lead Arranger, Agent Bank and Sace Agent, Cassa Depositi e Prestiti Spa, UniCredit Spa, BNL BNP Paribas and Sparkasse - Cassa di Risparmio di Bolzano as Bookrunners and Mandated Lead Arrangers.

Intesa Sanpaolo also reports that it has acted as Green Loan Coordinator for the structuring of the green lines, amounting to EUR192 million out of the total EUR197 million of the financing, aimed at supporting the green projects included in the company's plan.

The resources will mainly be allocated to the implementation of investment projects dedicated to the energy transition and digitization of public administrations, thus promoting, integrated energy efficiency solutions in key sectors, including public lighting, public building management, and energy communities.

City Green Light, established in 2017, is participated by the Italian Energy Efficiency Fund, Marguerite Infrastructure Italy II, and the European Investment Bank-EIB. It serves more than 250 municipalities throughout Italy with its operations, boasting strong experience in managing more than 900,000 lighting points, 100 road tunnels and 1,600 security cameras.

The financing, with a duration of about 7 years, is part of the Green New Deal objectives due to its positive impact in terms of climate change mitigation.

Intesa trades in the red 0.8 percent to EUR2.47 per share while UniCredit is down 0.7 percent to EUR23.50 per share.

By Chiara Bruschi, Alliance News reporter

Comments and questions to redazione@alliancenews.com

Copyright 2023 Alliance News IS Italian Service Ltd. All rights reserved.