Global law firm Hogan Lovells has advised Ferrovie dello Stato Italiane on its €3.5 billion sustainability-linked revolving credit facility, which provides for rate of interest and commitment fee adjustments upon achievement of certain ESG-related targets (i.e., Key Performance Indicators, “KPI”).
Particularly, the KPIs relate to the percentage of capex aligned with the EU taxonomy, energy intensity set out as the ratio of energy consumption to the Ferrovie dello Stato Italiane’s operating revenues, and the increase in the percentage of female employees compared to the total number of employees.
The Hogan Lovells team that advised Ferrovie dello Stato Italiane on all phases of the transaction, including the competitive bid process for the selection of the lenders, was led by partner Federico Del Monte supported by associate Anita Lucchini. Counsels Maria Cristina Conte and Emanuela Cocco advised respectively on the tax and administrative aspects of the transaction.
