BNP Paribas Italian Branch and Fincantieri have finalized an agreement to turn the guarantee line for a maximum amount of 700 million euros granted by the bank into a “sustainability linked Guarantees Facility”. The agreement has a minimum tenor of over 4 years and it is the first operation of this kind for the shipbuilding group.
The guarantee line granted by BNP Paribas is defined as “sustainability linked” because it is related to the achievement of two specific performance indicators (Key Performance Indicator, “KPI”) included in Fincantieri’s 2018–2022 Sustainability Plan: efficient energy consumption management and supply chain sustainability. Based on whether or not these goals are achieved, the agreement envisages an upward or downward mechanism for the guarantees’ costs, calculated according to a symmetrical grid at the end of each year.
Shipping News You Would Like:
The information contained in this website is for general information purposes only. While we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Latest Shipping News You Would Like:
Get the Latest Maritime News Delivered to Your Inbox!
Our free, fast, and fun newsletter on the global maritime industry, delivered everyday.