MILAN – Intesa Sanpaolo, Italy’s largest bank by total assets, announced Thursday that together with BNL BNP Paribas, BNP Paribas Italian Branch, Banco Bpm, Mediobanca and Rabobank, it has signed a loan agreement with Lavazza, Italy’s biggest coffee roaster and a global player in the international market.
The total amount of EUR600 million is divided into a Term Loan credit line and a Revolving credit line, both with a 5-year term, and is aimed at generic needs of the company including projects in the area of sustainability.
Intesa, through IMI Corporate & Investment Banking Division, also acted as Agent and Sustainability Coordinator, says a statement from the bank.
The financing is linked to specific ESG objectives of Lavazza, with the provision of a reward mechanism linked to the achievement of certain sustainability parameters.
The banks were assisted by assisted by Dentons law firm, while Lavazza was assisted by Shearman & Sterling.
