Mundys S.p.A. has announced the placement of a new sustainability-linked bond with a nominal value of EUR500m and maturity of six years (September 29, 2031).
A&OShearman has advised the financial institutions BNP Paribas, BofA Securities and Crédit Agricole as global coordinators and active bookrunners; Banca Akros, Barclays, IMI-Intesa Sanpaolo, Mediobanca, RBC Capital Markets and UniCredit as active bookrunners; and BPER Corporate & Investment Banking, J.P. Morgan, SMBC and Société Générale as other bookrunners.
The bond pays a fixed annual coupon of 3.70%. There is a premium payment for maximum cumulative 0.75% if Mundys does not satisfy three key performance indicator (KPI) conditions (KPI 1, KPI 2, and KPI 3), in accordance with the contractual documentation of the euro medium-term note (EMTN) program.
The three KPIs measure progress of the decarbonization roadmap of the group towards 2030.
The bond has been admitted to listing on the regulated market of the Irish Stock exchange, Euronext Dublin.
Cristiano Tommasi, partner, commented: "The growing interest of investors in financial instruments linked to sustainability objectives reflects a structural transformation of capital markets, where the ability to integrate ESG criteria into funding strategies has now become a distinguishing factor. In this context, sustainability-linked bonds represent a key lever to support companies in their transition, enhancing financial innovation and the robustness of contractual frameworks in pursuit of ambitious climate goals."
The A&OShearman team was led by partnerCristiano Tommasi, supported by counselSarah Capella, associateMarco Mazzurco, and trainee Lisa Avitabile. CounselElia Ferdinando Clariziaadvised on tax aspects.