September 23, 2022
(press release)
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Lucart gets a 101.4 million euro loan to invest in support of the circular economy. The papermaking group, known for its Tenderly and Lucart Professional brands, benefited from a grant from a pool of banking institutions consisting of UniCredit (in the role of Global Coordinator and Intercreditor Agent), BNL BNP Paribas, Banco BPM, BPER Banca, Crédit Agricole Italia, Intesa Sanpaolo-Divisione IMI Corporate & Investment Banking, and MPS Capital Services. UniCredit and Intesa Sanpaolo also acted as Sustainability Coordinator, Facility Agent and SACE Agents. Assisting the transaction was SACE Guarantee, aimed at supporting the growth plans of Italian companies. The duration is 6 years and is divided into four loans, two of them Sustainability-Linked thanks to the introduction of sustainability objectives agreed with the two Sustainability Coordinators. Among the objectives identified are issues relevant to Lucart and its sector, also in light of the NRP, such as reducing water consumption and waste recovery. The sum available is intended to support and give continuity to investments in support of the circular economy and the implementation, in the production chain, of plants and machinery with greater efficiency of water and energy resources. "Sustainability is the element that inspires our innovations and our relations with our stakeholders," said Andrea Fano, Lucart's Chief Financial Officer. "We are therefore happy to see how our path is being followed and supported by the country's most important lending institutions, which appreciate our business model and our approach determined to optimize the use of raw materials and reduce waste by transforming it into new resources. The financing obtained is part of a path to strengthen the Group's capital structure to support the ambitious growth plan set out in our Strategic Plan."
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