Rome, July 23, 2025 – Società Gasdotti Italia (SGI), Italy’s leading independent gas transmission operator, has successfully closed a €775 million refinancing package aim to support the company’s strategic growth plan and further strengthen its financial position.
The refinancing will replace existing bank facilities and finance new investment programs, including key initiatives such as the replacement of certain gas pipelines to enhance safety and operational efficiency, the expansion of SGI’s transmission network to facilitate the connection of new biomethane plants, and the digital transformation of the company’s infrastructure and assets.
Structured across dual tenors, the new financing includes a €245 million 5-year bank term loan, a €335 million capex facility, a €20 million RCF and the issuance of two 7-year institutional tranches for a total amount of €175 million, ensuring a balanced capital structure with staggered maturities.
The operation will enable SGI to fund its capital expenditures over the next five years with a prudent liquidity buffer, extend the maturity profile of its debt structure, and provide increased financial flexibility for further development initiatives.
The financing was structured with the support of Intesa Sanpaolo – IMI Corporate & Investment Banking Division that acted as financial advisor and Latham & Watkins that served as legal advisor.
The refinancing was completed with the participation of 12 international banks including Intesa Sanpaolo – IMI Corporate & Investment Banking Division, BNP Paribas, Crédit Agricole, BBVA, UniCredit, Bank of China, ICBC, ING Bank N.V. – Milan Branch, CIBC, Mediobanca, BPER and Banco BPM as well as two institutional investors, Barings and Aviva Investors.
Anne Petrarque, CFO of SGI, commented: “We are extremely pleased with the successful closing of this transaction, which would not have been possible without the strong support of our Board. This milestone confirms the soundness of SGI’s financial strategy and positions us for continued growth in line with our long-term vision. The refinancing enhances our financial flexibility, provides certainty over long-term funding, and supports the execution of SGI’s capital investment plans, aligned with our commitment to a robust and sustainable energy infrastructure”.
Roberto Loiola, CEO of SGI, added: “This refinancing is not only a financial operation but a strategic enabler for SGI’s commitment to growth and energy transition. It empowers us to invest in new renewable gas infrastructures and accelerate the digitalisation of our network, in full alignment with our mission of ensuring a safer, more efficient, and sustainable energy system for Italy. With this strong financial foundation, we are able to lead the evolution of Italy’s gas sector, embracing innovation, improving resilience, and supporting the country’s decarbonisation targets”.
