ZEGNA GROUP ANNOUNCES FUNDING AGREEMENTS RELATED TO SUSTAINABILITY
ESG KPIs INCLUDE RAW MATERIALS TRACEABILITY OBJECTIVES AND RENEWABLE ENERGY OBJECTIVES
MILAN, July 28, 2022 – Ermenegildo Zegna NV (NYSE: ZGN) (“Zegna”) announced today that it has entered into several bilateral financing agreements for a total amount of €190 million. These are renewable lines committed for a period of 7 years, with pricing linked to two important ESG objectives, already communicated by the Group: 1) at least 50% of priority raw materials traced to their geography of origin and to low impact by 2026; and 2) 100% electricity from renewable sources in Europe and the United States by 2024.
Thanks to these credit facilities, Zegna consolidates its already solid liquidity position by refinancing part of its debt, which will expire in the coming months, with a cheaper and more flexible solution, and integrates its commitments in terms of sustainable development into its commercial and financial objectives.
Ermenegildo “Gildo” Zegna, Chairman and CEO of the Zegna Group, said: “I believe in responsibility. I am very proud of this transaction which strengthens the financial structure of Zegna, by integrating our commitments in terms of sustainable development into our activities and our strategy. This stems from our first sustainability-related loan signed with Intesa Sanpaolo in 2018.”
The banks that participated in the transactions are Intesa Sanpaolo (Divisione IMI Corporate & Investment Banking), BNL BNP Paribas and Mediobanca.
About Ermenegildo Zegna Group
Thanks to its luxury textile laboratory platform – which strives to preserve the artisanal spinning mills producing the best Italian fabrics – the Zegna Group manufactures and distributes the highest quality fabrics and textiles. The Group’s products are sold in more than 500 stores in 80 countries around the world, of which 295 are directly operated by the Group as of March 31, 2022 (244 Zegna stores and 51 Thom Browne stores). Over the decades, the Zegna Group has charted our course: a unique path that crosses milestones that have seen the group grow from a producer of premium woolen fabrics to a global luxury group. Our road has taken us to New York, where the Group has been listed on the New York Stock Exchange since December 20, 2021. And as we continue to progress on our road to tomorrow, we remain committed to carrying on the legacy of our founder – one who is on the principle that the activities of a company should help the environment. Today, the Zegna Group creates a lifestyle that keeps pace with modern times while continuing to connect with the natural world and with our communities that create a better present and future.
Francesca Di Pasquantonio
+39 335 5837669
Ermenegildo Zegna Group
+39 335 5387288
Brendan Riley / Alessandro Iozzia / Marie Jensen
+1 (917) 755-1454 / +39 335 718 7205 / +33 (0) 6 49 09 39 54