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The transaction, worth a total of €135 million, is devoted to the development of networks and water systems serving 2.2 million citizens in the Turin metropolitan area
CDP is the main underwriter of the bond issued by SMAT, a public company managing the integrated water service of the Turin metropolitan area for more than 2.2 million inhabitants.
The €135 million transaction represents SMAT's debut on the international bond market and has benefited from CDP's commitment as anchor investor attracting other international institutional investors, and BNP Paribas’s activity as sole bookrunner.
Thanks to the funding, SMAT will be able to expand and modernize the water networks, production, distribution, collection and treatment for Turin and the other 291 municipalities served by the company.
"CDP has a strong interest in the water sector, which is characterized by high investment demand to adapt the infrastructure and improve the quality of service for citizens," explains Antonella Baldino, CDP’s chief business officer. "Underwriting the SMAT bond, on one hand, serves to support the investment plan in the water sector in the Turin metropolitan area and, on the other hand, aims to promote access to the capital market by the company that is one of Italy’s largest national operators. Thanks to the acknowledged ability to attract investments, crucial to attracting international investors to the Italian infrastructure market, CDP plays a full role as the National Promotion Institute for Italy."
CDP's intervention, in line with the Business Plan 2016-2020, supports the process of infrastructure development and modernization in Italy. Together, we promote the future of our country.