Mundys mandates banks for benchmark euro-denominated five-year sustainability-linked notes

By Paul A. Harris

Portland, Ore., Jan. 16 – Mundys SpA mandated BNP Paribas, Credit Agricole CIB, IMI-Intesa Sanpaolo and Mediobanca as joint global coordinators, and Credit Agricole as sustainability structuring coordinator for a contemplated benchmark euro-denominated offering of five-year sustainability-linked senior notes (expected ratings Ba2/BB+/BB), according to a market source.

The deal, which is subject to market conditions, was scheduled to be presented to investors on Monday.

The notes will be issued in accordance with the issuer’s sustainability-linked financing framework, initially released in November 2022 and updated following the validation of Mundys’ targets by science-based target initiatives achieved in August 2023.

Sustainalytics has provided a second-party opinion dated Dec. 22 2023.

The joint active bookrunners on the notes will be Banca Akros SpA, BNP Paribas, Credit Agricole, IMI-Intesa Sanpaolo, Mediobanca and UniCredit.

The prospective issuer is a Rome-based infrastructure group with a long-term concession portfolio comprised of motorways, airports and mobility services.

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