Intesa Sanpaolo has signed the first CE-linked interest rate swap with Feralpi Siderurgica S.p.A., after the recent €40 million financing aimed at achieving specific targets related to sustainability and circular economy.
The CE-linked interest rate swap, which is a first in the Italian market, aims to reward the virtuous behaviour of the company by improving the terms of the derivative if circular economy targets are met. The IMI Corporate & Investment Banking Division has structured a hedging transaction to cover exposure to the risk of fluctuations in interest rates linked to the loan.
The tool demonstrates that the product innovation channel is one of the pillars of the IMI Corporate & Investment Banking Division's activities, as it allows the application of complex strategies such as hedging to be associated with incentive systems towards ESG policies of excellence.
