UNICREDIT UNDERWRITES FIRST EVER SYNDICATED SOCIAL REVOLVING CREDIT FACILITY ON BEHALF OF SUEZ
Wednesday 05 August 2020
UniCredit has acted as the sole underwriter and sustainability coordinator in a €100m syndicated social revolving credit facility for SUEZ, the French utility company
UniCredit has underwritten a syndicated social revolving credit facility with SUEZ, the French utility company. This is the first of its kind with a corporate globally, with amounts borrowed under the facility to be used for the financing or refinancing of eligible social projects that address the ongoing impact of Covid-19.
Commenting on the transaction, Antonio Keglevich, UniCredit’s Global Head of Sustainable Finance Advisory, said: “We are delighted to have played a key role in SUEZ’s syndicated social revolving credit facility, the first of its kind globally to address the ongoing impact of Covid-19. As the pandemic broadens the scope of traditional ESG financing, this transaction is testament to our ability to deliver innovative financing solutions on behalf of our clients.”
On the topic of how clients may implement the structure moving forward, Malte Kolb, Associate Director – Sustainable Finance Advisory at UniCredit, added: “The companies we are currently talking to have very different use cases. A pharmaceutical company, for instance, might have very direct activities – such as working on a vaccine. Other companies, like SUEZ, are active in other sectors and are asking how they can finance relevant activities targeted at their own employees or support foundations through financial contributions.”