MAIRE raises €185m sustainability‑linked Schuldschein to refinance facilities
- €185 million sustainability-linked Schuldschein with two tranches maturing in 3 and 5 years, margins 1.50% and 1.70% over 6-month Euribor.
- Proceeds to support early repayment of existing facilities; facility can be increased to €300 million by end of July.
- Syndicate includes BNP Paribas, BPER CIB, Commerzbank, Crédit Agricole CIB, Intesa Sanpaolo IMI CIB, UniCredit Bank GmbH, with support from Cassa Depositi e Prestiti.
- Pricing tied to targets: 28% reduction in Scope 1+2 emissions vs 2024 and 20% of suppliers (Scope 3, Cat.1) with science-based targets by 31 Dec 2028, otherwise a margin step-up applies.
Transaction details
MAIRE raised €185 million via its third sustainability-linked Schuldschein, a senior unsecured German-law private placement split into 3- and 5-year tranches with margins of 1.50% and 1.70% over 6-month Euribor; pricing is tied to targets under the Sustainability-Linked Financing Framework adopted in October 2025.
Use of proceeds and optional increase
Proceeds are for general corporate purposes, primarily the early repayment of existing facilities; the facility can be increased to a total of €300 million by the end of July.
Arrangers and syndicate
Arrangers were BNP Paribas, BPER – Corporate & Investment Banking, Commerzbank AG, Crédit Agricole CIB, Intesa Sanpaolo (IMI CIB) and UniCredit Bank GmbH; Crédit Agricole CIB acted as sustainability coordinator and UniCredit as paying agent; placement involved banks and financial institutions across Europe, Asia and the Middle East, with support from Cassa Depositi e Prestiti.
Sustainability conditions
Pricing is conditional on achieving by 31 December 2028 a 28% reduction in Scope 1 and 2 GHG emissions versus the 2024 baseline and ensuring 20% of suppliers by purchased-goods emissions (Scope 3, Category 1) have science-based targets, with a margin step-up if these targets are not met.
Source: Maire