Clifford Chance advises lenders on financing for ENEA’s sustainable development
Helen Saulnier
2 min read
International regulation business Clifford Prospect encouraged a consortium of banks in connection with the summary with Enea S.A. of an settlement for a revolving credit rating facility of up to PLN 1 billion and a expression loan of up to PLN 1.5 billion, which will be granted as a sustainability-connected personal loan (the Amenities Agreement). This means that the margin will rely on the achievement of indicators relevant to sustainable improvement, i.e. the CO2 emission reduction indicator and an improve in the share of renewable energy sources in the creation composition of the Enea capital group. The correctness of the KPI calculation will be confirmed by an unbiased auditor. Enea S.A. will allocate the total resulting from the margin reduction to non-governmental organisations on the conditions set out in the Amenities Settlement – this is a unique answer on the Polish sector.
The cash attained by the corporation will be made use of among the other factors to finance and refinance its funds expenditures associated to the modernization or servicing of its distribution grid and renewable vitality sources. The consortium of banks incorporated PKO Lender Polish, Bank Gospodarstwa Krajowego, Bank Pekao, Alior Bank and Bank of China (Europe) Oddział w Polsce. The approach was coordinated by Bank Pekao, which will also act as the agent.
