Two new sustainability-linked credit facilities signed for €250 million

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Last updated on October 15, 2024 at 11:00 am

Amplifon (EXM; Bloomberg/Reuters ticker: AMP:IM/AMPF.MI), global leader in hearing solutions and services, announces that it has signed two new sustainability-linked credit facilities, both amortizing with a 5-year term, for a total amount of 250 million euros.

In detail, a 200-million-euro credit facility was signed with UniCredit and Cassa Depositi e Prestiti (CDP), divided as follows: 100 million euros from UniCredit to support the Group's development initiatives and 100 million euros from CDP which co-financed Amplifon's investments in innovation in Italy. Cassa Depositi e Prestiti provides additional resources to those granted under the loan signed with the European Investment Bank (EIB) last year in July addressed at fostering innovation in Europe.

Furthermore, Crédit Agricole Italia, backed by SACE’s Garanzia Futuro, financed for 50 million euros the international roll-out of Amplifon’s new store format, aimed at providing consumers with an immersive and completely personalized experience through visual and digital elements integrated into an innovative and sustainable architectural design.

These credit lines – comments Amplifon CEO Enrico Vita – are linked to specific targets of our Sustainability Plan contributing to our ongoing journey towards a further integration of ESG factors into the Group's business and financial strategy. With the agreements announced today, the number of sustainability-linked facilities signed from 2021 to today rise to five for a total amount of 850 million euros, testifying to our ambition to create value for the benefit of all stakeholders".

In line with Amplifon's sustainability strategy, both credit lines are linked to specific indicators of the Sustainability Plan, the achievement of which will activate a margin adjustment mechanism applied to each loan. Through these facilities, characterized by particularly favorable conditions, Amplifon further optimizes its financial structure thanks to an even more solid liquidity position, more diversified sources of funding and an extension of the average debt maturity.

White & Case acted as legal advisor to Amplifon S.p.A., while Clifford Chance acted as legal advisor to the financial institutions in these two transactions.

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