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FINCANTIERI SECURES SUSTAINABILITY LINKED FINANCE FOR CRUISE NEWBUILD

FINCANTIERI SECURES SUSTAINABILITY LINKED FINANCE FOR CRUISE NEWBUILD

Tuesday, December 28, 2021 

Italian state shipbuilding group Fincantieri has signed the first sustainability-linked construction loan with bank Intesa Sanpaolo (IMI Corporate & Investment Banking Division) and Cassa Depositi e Prestiti for a maximum amount of 300m.

The financing revenues are intended to cover the financial requirements of the construction of an unspecified cruise ship with delivery expected in 2023.

The terms of financing, defined as “sustainability-linked”, envisage a benefit or a penalty for Fincantieri upon expiry according to the achievement of specific ESG (Environment, Social, Governance) key performance indicators (KPI) envisaged in the company’s 2018–2022 Sustainability Plan. These KPIs relate to efficient energy consumption management, supply chain sustainability and employee training.

Given the progress with the construction of the cruise ship to date, Fincantieri expects to use the sustainably-linked loan partially by the end of 2021.

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