International law firm Simmons & Simmons has advised leading Italian multi-utility company AGSM AIM S.p.A. on the issuance of a €50 million green bond in the form of a US Private Placement, fully subscribed by PGIM Private Capital, the private capital division of PGIM, the global investment management business of Prudential Financial.
The proceeds from the bond, which has a 12-year maturity, will be allocated to AGSM AIM's Green Financing Framework. The Framework outlines projects with a positive environmental impact, aligned with the objectives set out in AGSM AIM's Industrial Plan.
Specifically, the green bond will support strategic investments related to the energy transition, energy efficiency, technological innovation, and the sustainable development of services offered by the company.
The transaction is part of AGSM AIM's US$200 million 3-year Private Shelf Facility - a flexible financing arrangement allowing it to issue additional bonds.
The Simmons & Simmons team was led by Partner Paola Leocani and Supervising Associates Ilaria Barone and Martina Nicki Giocoladelli. US and UK law aspects were handled by Partner Charles Hawes and Supervising Associate Lukasz Napieraj.
Tax matters were managed by Partner Marco Palanca and Associate Giulia Aglialoro. Mediobanca supported the company as Sole Arranger of the bond issuance.
