Global law firm Clifford Chance has advised a syndicate of lenders (comprising BBVA, BNP Paribas and Commerzbank) and SACE, the Italian insurance and financial group, on a €500 million facility in favour of the utility EnBW.
The facility has a tenor of seven years and is guaranteed by SACE for 80% of the outstanding loan amount plus interest. The facility is sustainability-linked and incorporates the same ambitious sustainability performance indicators that apply to EnBW’s other syndicated credit facility. In addition, in connection with the guarantee issued by SACE, the facility agreement provides for EnBW’s cooperation in procurement matters to boost and strengthen business relationships with Italian suppliers.
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