Fiumicino, 4 October 2022 - Aeroporti di Roma executed a new €350 million sustainability-linked revolving credit facility, with a 5-year tenor and up to 2-years extension options.

Marco Troncone, Chief Executive Officer of Aeroporti di Roma, said: "This transaction, in its distinctive sustainability-linked format, further increases the share of sustainable financing sources and enriches and strengthens our concrete commitment on this front, which is a cornerstone of the Group's strategy. In fact, in spite of the current challenges in the energy sector, our decarbonisation commitment is becoming even more ambitious, increasing threefold the accessibility emissions (Scope 3) reduction goal, relying mainly on a future network of 5,400 recharging points for electric vehicles, the first ones already operational from September, and focusing on rail access, enhancing the partnership with Ferrovie dello Stato. The set of commitments is also enriched with a gender equality target within the key management figures of our Group. The undertakings in our Financing Framework are being reported on and continuously monitored by third parties, confirming that this is the time for concreteness and credibility in support of a transitional phase in one of Italy's strategic sectors which will be challenging but, with the right approach, achievable in the necessary timeframe and manner.

The new credit line replaces the previous €250 million revolving credit facility signed in July 2016 and expiring in July 2023, and aims to strengthen the company's liquidity profile.

The transaction, in the wake of the 2021 bond issue, has a sustainability-linked format, in order to strengthen the deep integration between sustainability goals and the company's financial strategy. Thanks to the new revolving credit facility, about 40% of ADR's capital structure is now made up of sustainable finance instruments, in line with the goal of reaching at least 50% by 2025.

The applicable interest rate (and, as a consequence, the commitment fees on undisbursed amounts) will be subject to an yearly step-up or step-down adjustment, depending on whether or not the sustainability targets relating to the following indicators were achieved during the previous year:

• direct and indirect CO2 emissions associated with Fiumicino airport and directly controlled by ADR (Scope 1 and Scope 2)
• CO2 emissions associated with Fiumicino airport that depend on third parties, essentially with reference to mobility to and from the airport (Scope 3)
• gender equality in middle and senior management within the ADR group.

The first two KPIs contribute to the achievement of UN Sustainable Development Goal (SDG) 13 "Take urgent action to combat climate change and its impacts", in line with ADR's 'Sustainability-Linked Financing Framework', updated in April 2022 and accompanied by the Second-Party Opinion issued by Sustainalytics.

The third KPI contributes to the achievement of SDG 5 "Achieve gender equality and empower all women and girls" by supporting Aeroporti di Roma's inclusive and gender diversity promotion strategy. 

The credit facility is provided by eight leading financial institutions: Banco BPM, Barclays, BNP-Paribas, Crédit Agricole CIB, Intesa Sanpaolo, Mediobanca, Natixis and Société Générale, which acted jointly as Mandated Lead Arrangers and Bookrunners.

Crédit Agricole CIB and Mediobanca acted as ESG structuring agents, while Intesa Sanpaolo was appointed as Facility Agent.

ADR was assisted by the law firm Legance, while the financial institutions were assisted by the law firm White & Case.