INWIT: Extension Of 500 Million Euro Sustainability-Linked Term Loan From 2025 To 2027
Milan, 10 January 2024 – On 8 January 2024, INWIT, leading Italian tower operator, formalised the option to extend the maturity date of the 500 million euro sustainability-linked Term Loan from April 2025 to April 2027.
The option allows the extension of the term of the loan at the same economic conditions and with the same financing institutions.
The sustainability-linked Term Loan, a floating-rate instrument linked to specific sustainability indices, was taken out in April 2021 for an original term of 4 years and with a pool of 4 financial institutions: Mediobanca (coordinating bank), Cassa depositi e prestiti, Intesa Sanpaolo and UniCredit.
The operation allows INWIT to further improve the debt structure extending maturities, shifting the first refinancing need to 2026.
The company has BB+ and BBB- ratings assigned respectively by Standard and Poor’s and Fitch Ratings with a stable outlook by both Agencies. As of 30 September 2023, INWIT has a gross financial debt (before application of the IFRS 16 accounting standard) of 3,3 billion euros and a 78% fixed rate and 22% floating rate debt structure.