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Fincantieri gets €800m in financing to support growth, develop backlog

The financing is sustainability-linked – intertwined with the achievement of three KPIs set out in Fincantieri's 2023-2027 Sustainability Plan
Fincantieri signed an €800m facility agreement – for a five-year term with three years grace period and 70% guaranteed by SACE – to address funding needs for organic growth and the development of its backlog.  

The financing is linked to sustainability targets, intertwined with the achievement of three KPIs laid out in Fincantieri’s 2023-2027 Sustainability Plan, namely the reduction of Scope 1 and Scope 2 greenhouse gas emissions, the development of high energy efficient cruise ships in Italy, and the attention to gender representation by promoting women in senior roles.

Pool of lenders

SACE is directly controlled by the Italian Ministry of Economy and Finance. 

The pool of lending banks is composed by BNP Paribas CIB Italia, also acting as bookrunner, agent bank, structuring bank and sustainability coordinator – and the original lenders Santander Corporate & Investment Banking, CaixaBank - Italy branch, Intesa Sanpaolo IMI Corporate & Investment Banking Division also acting as sustainability co-coordinator, Banco BPM, BPER Banca, Deutsche Bank, Banca Monte dei Paschi di Siena and BNL BNP Paribas.

The SACE guarantee and the portion of the loan from Banca Monte dei Paschi di Siena represent related parties' transactions, respectively of minor and major significance. Both of these transactions benefit from the exclusion of the procedural system provided for ordinary transactions and finalised at market conditions.