The bank is supporting the company's investment in its sustainable transformation
The partnership between UniCredit and Furla has begun a new chapter. The leading Italian leather goods and accessories manufacturer had already adopted UniCredit's innovative supply chain support solutions, which proved invaluable during the pandemic, and now the partnership is being extended with the first sustainability-linked loan.
UniCredit has granted Furla a three-year, €25 million revolving credit facility to support the company's investments, as it transforms its production model into a sustainable one.
The sustainability-linked loan features a mechanism whereby the interest rate changes when specific environmental sustainability targets are reached and certified by independent third parties.
"This transaction - Furla's CEO Mauro Sabatini commented - further strengthens the group's financial structure, mitigating its risk profile in the current general market climate and establishing a reward mechanism linked to the achievement of specific ESG objectives. The values of sustainability are now universally recognised and are also shared by the financial world. For Furla, this financing is a further incentive to achieve its ambitious goals to build a sustainable business."
"Sustainability is increasingly becoming a competitive factor for companies - said Alfredo De Falco, Head of CIB Italy at UniCredit - as it gains more significant influence in the choices of consumers and investors. UniCredit is a leading European bank in financing solutions linked to ESG objectives, which can effectively support the transformation of companies' business models. As such, we are delighted to be supporting a Made in Italy company like Furla on its journey to build a sustainable business".
Milan, 14 June 2021