Mundys issues €500 million sustainability-linked bond listed on Euronext Dublin

Mundys S.p.A. has announced the placement of a €500 million sustainability-linked bond with a six-year maturity (29 September 2031). In the transaction, BNP Paribas, BofA Securities, and Crédit Agricole acted as Global Coordinators and Active Bookrunners; Banca Akros, Barclays, IMI-Intesa Sanpaolo, Mediobanca, RBC Capital Markets, and UniCredit as Active Bookrunners; and BPER Corporate & Investment Banking, J.P. Morgan, SMBC, and Société Générale as Other Bookrunners.

The bond carries a fixed annual coupon of 3.70%. It includes a premium payment mechanism, with a cumulative maximum premium of 0.75% in case of failure to achieve the targets (KPI 1 Condition, KPI 2 Condition, and KPI 3 Condition) set out in the contractual documentation of the company’s EMTN Program. All KPIs are aimed at measuring the progress of Mundys Group’s decarbonization roadmap by 2030. The bond has been admitted to trading on the regulated market of the Irish Stock Exchange, Euronext Dublin.

The A&O Shearman team assisted the financial institutions mentioned above. The team was led by partner Cristiano Tommasi, assisted by counsel Sarah Capella, associate Marco Mazzurco, and trainee Lisa Avitabile. Counsel Elia Ferdinando Clarizia advised on tax matters.

Mundys S.p.A. was assisted by Legance, with a team composed of senior partner Alberto Giampieri, partner Antonio Siciliano, and associate Niccolò Milesi. Tax aspects were handled by partner Giulio Mazzotti, counsel Luigi Quaratino, and associate Melania Giorgio.