The project aims to fulfil specific ESG goals to reduce environmental impact. Once achieved, the company will benefit from a reduction in financing costs.
Stimulate the energy transition, promote investments in Italy and generate a positive impact on the environment and the job market. These are the goals identified by the two different “ESG-linked” agreements entered into by the Stevanato Group S.p.A., a global solution provider for drug containment, delivery and diagnostics to the pharmaceutical, biotechnology and life sciences industries, with BNL BNP Paribas and Cassa Depositi e Prestiti (CDP), for a total value of €130 million.
More in detail, CDP granted a loan of €60 million to be devolved to new investments in technological innovation, the purchase of cutting-edge equipment and the modernisation of production facilities in Italy, which will also generate a positive impact in terms of employment opportunities.
The project qualifies as “ESG-linked” as it is tied to the achievement of specific performance indicators (Key Performance Indicator, KPI) identified in both loan agreements. In fact, the financing granted by BNL BNP Paribas and CDP is linked to the fulfilment of ESG goals aimed at reducing environmental impact previously determined by the parties. Once achieved, the company will benefit from a reduction in financing costs.
These loan agreements contribute to consolidating the company’s commitment towards an organic and sustainable growth as well as continued investments in Italy and in the Group’s international facilities, in order to expand regional production and meet the growing global demand for high-performance drug containment, as per the company’s high-value solution portfolio.
In the meantime, CDP also continues to support sustainable financing, also in the light of companies’ growing interest in this approach, as their investments are increasingly related to the achievement of specific ESG criteria.
“We are proud to have concluded this agreement, which confirms CDP’s affinity with the Italian entrepreneurial fabric, brimming with dynamic and cutting-edge businesses that, just like the Stevanato Group, successfully situate themselves towards a future focused on the ecological transition and the pursuit of ESG goals. The project allows to engage with an increasingly more widespread market trend among Italian companies leaders in their own sectors, by introducing a direct link between loan conditions and the achievement of specific environmental goals. From this perspective, the ESG-linked financing granted to the Stevanato Group highlights once more CDP’s tangible commitment in promoting evolved sustainable financial tools through initiatives featuring high levels of additionality and innovation,” stated Andrea Nuzzi, CDP Head of Corporate and Financial Institutions.