Oppenhoff advises world's largest cable manufacturer Prysmian on sustainability-linked loan of €1.2 billion

Oppenhoff has advised the world's leading cable manufacturer Prysmian S.p.A. on its first sustainability-linked loan in the amount of €1.2 billion. The loan was provided by a consortium of Italian and international banks. The consortium includes the six bookrunners: Banco BPM, BNP Paribas, Crédit Agricole CIB, ING, Intesa Sanpaolo and Mediobanca, with Crédit Agricole CIB acting as ESG coordinator and Intesa Sanpaolo as facility agent. The loan primarily serves to refinance the €1 billion medium-term loan taken out in 2018.

Important environmental and social ESG targets are included in the loan terms: the reduction of CO2 emissions, the ratio of female white collar employees and managers hired to the number of total hires, and the number of sustainability audits conducted in the supply chain.

Alongside Oppenhoff (lead partner Dr Wolfgang Kotzur), Prysmian was advised by Simmons & Simmons Milan.

The Prysmian Group is a global leader in the field of energy and telecommunication cables and systems. With a turnover of over €12 billion, around 29,000 employees in over 50 countries and 108 plants, the group holds a strong position on high-tech markets. Prysmian is listed on the Borsa Italiana in the FTSE MIB benchmark index.

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