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Enel secures €1 billion loan to drive sustainability agenda

Italian multinational energy company Enel has signed a €1 billion ($1.17 billion) sustainability-linked loan facility agreement to help it to increase its renewables’ capacity.

The six-year loan is supported by a syndicate of six banks. Enel will use the loan to align its operations with the commitment to achieving the United Nations Sustainable Development Goals.

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The loan framework is aligned with the International Capital Market Association’s (ICMA) “Sustainability-Linked Bond Principles” and Loan Market Association’s (LMA) “Sustainability-Linked Loan Principles”.

The signing of this loan is in line with Enel’s financial strategy, which is increasingly characterised by sustainable finance as reflected by the objective to achieve a share of sustainable finance sources on total gross debt equal to 43% in 2022 and 77% in 2030.