CDP RETI entered into a 750 million euro short-term bridge loan

Rome, 25 May 2022 h. 15:42 – CDP RETI S.p.A. (“CDP RETI”), in the context of a transaction to refinance its current debt, announces that, today, it entered into a short-term bridge loan agreement totalling 750 million euro. The bridge loan has a 12-month maturity and an option to extend the maturity date by an additional 6 months. The loan may in turn be reimbursed through the issuance of a new bond.

The funds from the loan will enable CDP RETI to fully repay the indebtedness from the bond issued in 2015 and maturing on 29 May 2022.

The loan was granted by a pool of banks and by the parent company Cassa Depositi e Prestiti S.p.A.

CDP RETI S.p.A. is an investment vehicle owned by Cassa Depositi e Prestiti S.p.A. (59.1%), State Grid Europe Limited, State Grid Corporation of China group (35%), and a group of Italian institutional investors (5.9%). CDP RETI’s mission is to manage the equity investments in SNAM (31.35% at 31 December 2021), TERNA (29.85% at 31 December 2021) and ITALGAS (26.02% at 31 December 2021).