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    BAMI   IT0005218380

BANCO BPM S.P.A.

(BAMI)
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Banks grant Lavazza 500 million euro loan for green projects

09/21/2021 | 05:42am EST

MILAN (Reuters) - A pool of Italian banks has granted a 500-million euro ($587 million) loan to Lavazza to fund projects aimed at making the coffee maker more sustainable, a statement issued by the lenders said on Tuesday.

BNP Paribas's BNL, Banco BPM and Intesa Sanpaolo have acted as mandated lead arrangers and lenders in the transaction that involves a term loan and a revolving credit line, both with a five-year maturity, the banks said.

"The financing is linked to Lavazza's specific ESG (Environmental, Social and Governance) goals," the banks said, adding it entails a bonus mechanism linked to the achievement of specific sustainability targets.

The banks were assisted by the law firm Bonelli Erede, while Lavazza was assisted by the law firm Clifford Chance.

($1 = 0.8523 euros)

(Reporting by Francesca Landini, editing by Giulia Segreti)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
BANCO BPM S.P.A. -0.27% 2.547 Delayed Quote.41.26%
BNP PARIBAS -0.50% 56.17 Real-time Quote.30.96%
INTESA SANPAOLO S.P.A. -0.05% 2.1465 Delayed Quote.12.28%
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Financials
Sales 2021 4 442 M 5 025 M 5 025 M
Net income 2021 546 M 618 M 618 M
Net Debt 2021 - - -
P/E ratio 2021 7,19x
Yield 2021 5,41%
Capitalization 3 850 M 4 346 M 4 355 M
Capi. / Sales 2021 0,87x
Capi. / Sales 2022 0,89x
Nbr of Employees 20 565
Free-Float 91,4%
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Number of Analysts 17
Last Close Price 2,55 €
Average target price 3,50 €
Spread / Average Target 37,3%
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Managers and Directors
Giuseppe Castagna Chief Executive Officer & Executive Director
Edoardo Maria Ginevra Chief Financial Officer
Massimo Tononi Chairman
Federico Maurizio d'Andrea Chairman-Supervisory Board
Angelo Colla Head-Information Technology
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