Enel has followed up its ground-breaking sustainability-linked bond, issued in early September, by signing its first revolving credit line with a similar format. The Italian electricity and gas company is doubling down on its commitment to increasing its renewable generation capacity by the end of 2021.
The €1bn five year loan was arranged by UniCredit.
It comes about a month after Enel pioneered a new bond format
, inspired by sustainability-linked loans, in which the coupon will be increased by 25bp if Enel fails, by December 31, 2021, to hit a target to increase the