- Client:M.T. – Manifattura Tabacchi S.P.A.
Debt Advisory e Restructuring
- Date:September 2021
M.T. – Manifattura Tabacchi S.P.A., the joint venture established in 2016 for 40% by the real estate company of Cassa Depositi e Prestiti Group and for 60% by PW Real Estate Fund III LP, a fund managed by Aermont Capital, has signed a “Sustainability-Linked” loan agreement with a total value of 92.3 million euro with a pool of banks consisting of Intesa Sanpaolo S.p.A., Banco BPM S.p.A. and MPS Capital Services Banca per le Imprese S.p.A..
The loan, with a duration of five years, is aimed at supporting the next phases of the development of the Manifattura Tabacchi redevelopment project in Florence, which foresees, by 2026, the recovery of the historic industrial area made up of sixteen buildings for a total of approximately 110,000 sqm, in compliance with strict environmental sustainability criteria.
The financing provides for the achievement of sustainability and circularity targets in order to qualify the impacts and benefits generated by the investment, not only in the short term but throughout the entire life cycle of the intervention, identifying objective, measurable and accountable KPIs.
Vitale acted as financial advisor, providing the client with constant and professional assistance, in the definition of the structure, terms and conditions of the transaction and in negotiations with banks.
- Deal value: