Loan Oversubscribed 2X, Integrates Sustainability Targets as Part of Group’s ESG Strategy.
Leonardo’s NH-90 helicopter. (File Photo).
Leonardo Debt refinancing: Rome, March 10, 2026: Leonardo S.p.A. has signed a €600 million ESG-linked Term Loan with a consortium of international and domestic banks, refinancing a portion of debt that matured in January 2026. The loan, which carries a five-year tenor with final maturity in 2031, includes a two-year grace period and proportional repayments starting in the third year.
The new credit facility underscores market confidence in Leonardo, with the Term Loan achieving a 2X oversubscription, reflecting strong investor demand and recognition of the company’s creditworthiness.
ESG Integration Highlights Sustainability Commitment
Aligned with Leonardo’s sustainability strategy and Transition Plan, the Term Loan incorporates environmental, social, and governance (ESG) indicators, specifically targets related to CO₂ emissions reduction. These indicators make the financing part of Leonardo’s sustainable financing sources, which currently account for approximately 80% of the company’s total available financing sources.
Roberto Cingolani, CEO and General Manager of Leonardo, said: “The new Term Loan allows us to meet future financial commitments while maintaining availability of short-term lines of credit for working capital. The high oversubscription confirms market appreciation for Leonardo’s industrial strategy, and the ESG linkage reaffirms our commitment to sustainability fully integrated into our business.”
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Leonardo’s M-346 F Trainer Aircraft.
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Strategic and Financial Benefits
The loan will allow Leonardo to manage ordinary and extraordinary liquidity needs, leaving existing short-term lines of credit unaffected. The transaction reflects the growing interest of the banking market in Leonardo, recognized as a leading player in the European Aerospace, Defence & Security (AD&S) sector.
Legal advisors for Leonardo were Chiomenti, while the pool of banks was assisted by Clifford Chance. The ESG coordination was handled by Crédit Agricole and BNP Paribas, with UniCredit serving as Documentation and Facility Agent.
Syndicate of Banks Involved
The Term Loan was arranged by a consortium of major banks including:
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Banco Bilbao Vizcaya Argentaria S.A., Milan Branch
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Banco BPM S.p.A.
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Banco Santander S.A., Milan Branch
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BNP Paribas, Italian Branch / Banca Nazionale del Lavoro S.p.A.
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BPER Banca S.p.A.
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CaixaBank, S.A., Succursale in Italia
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Commerzbank Aktiengesellschaft Filiale di Milano
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Crédit Agricole Corporate and Investment Bank, Milan Branch
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Deutsche Bank Luxembourg S.A.
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Intesa Sanpaolo S.p.A.
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Société Générale – Milan Branch
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UniCredit S.p.A.
The successful refinancing demonstrates Leonardo’s strengthened financial position and its ongoing commitment to integrating ESG principles into its financial strategy.
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