Case Study

Cogeninfra S.p.A. strengthens its capital structure and supports growth with flexible long-term financing​

Headquartered in Turin, Italy, Cogeninfra S.p.A. is an Italian provider of integrated energy solutions focused on the production and distribution of district heating and energy efficiency initiatives.​

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At a Glance

At a Glance

Cogeninfra owns and operates 11 district heating networks across Italy, and works alongside businesses and public entities to design, implement, and manage energy efficiency technologies and solutions.

In September 2026, PGIM provided Cogeninfra with €70 million of Senior Secured Notes and established a $45 million PGIM Private Shelf Facility to strengthen the group’s capital structure, refinance existing bank debt, and support the Company’s growth.  

Cogeninfra’s management chose to work with us due to our (i) flexibility in structuring a PGIM Private Shelf Facility able to support future capital expenditure, (ii) long-term investment horizon and established track record in Italian infrastructure and utilities, and (iii) competitive pricing and capacity to act as sole investor.  

PGIM is pleased to support Cogeninfra as it advances its growth strategy.

Relationship Since 2026
 
Transaction details:
  • $45,000,000 PGIM Private Shelf Facility
  • €70,000,000 Senior Secured Notes​

"We wanted a financing solution that would support both our refinancing objectives and growth plans. PGIM demonstrated a clear understanding of our business and long-term ambitions, and we appreciated working with a partner that could help position us for future opportunities."

Massimiliano Bettega, CFO, Cogeninfra S.p.A.​

<p>&quot;We wanted a financing solution that would support both our refinancing objectives and growth plans. PGIM demonstrated a clear understanding of our business and long-term ambitions, and we appreciated working with a partner that could help position us for future opportunities.&quot;</p>

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