Herbert Smith Freehills Kramer has advised FNM S.p.A. (FNM) on the execution of an €80 million financing facility with the European Investment Bank (EIB), aimed at supporting a significant investment programme in sustainable mobility across the Lombardy region.
The transaction, supported by InvestEU and SACE’s Archimede Guarantee, will finance FNM Group projects related to the use of hydrogen in transportation, contributing to the energy transition and the development of a more modern and sustainable transport system in Italy.
The facility has a final maturity of 15 years from utilisation, with an availability period of 36 months from signing, and will be repaid on an amortising basis following a three-year grace period. The financing agreement includes financial and non-financial covenants, conditions precedent and events of default in line with market practice for transactions of this nature. A SACE guarantee covering 50% of the financed amount has also been provided.
Herbert Smith Freehills Kramer acted for FNM with a team led by Emanuela Da Rin, Partner and Head of the Italian Banking & Finance team, together with Alessandro Buiani, Senior Associate.
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