At a Glance

In March 2023, PGIM learned about the Company’s financial needs and willingness to look for long-term investor ahead of a renewable power plants development and M&A plans. As a result, we established a relationship and shared a plan for possible capital support. Throughout the year, we worked with CVA to lock the rate at the right time to achieve a final coupon in line with expectations.

In December 2023, PGIM established a 3-year $200 million PGIM Private Shelf Facility and purchased €30 million of senior unsecured notes. The proceeds will be used to refinance existing indebtedness and general corporate purposes.

CVA SpA decided to partner with us given i) our relationship-oriented approach with a flexible and pragmatic approach, ii) the possibility of further draws under the shelf framework to finance their upcoming capex and M&A plan, and iii) our position as an international alternative to local banks offering longer maturities and flexible amortizing schedules.

We are excited to formalize our relationship with CVA SpA through this investment, and we look forward to supporting the Company in the years to come.