IDEX Secures €1.7B Refinancing, Cementing Leading Position in Local Low-Carbon Energy

Source: www.gulfoilandgas.com 12/18/2023, Location: Europe

? €1.7 billion from major investment banks and institutional investors
? First sustainability-linked loan indexed to IDEX’s ESG performance

IDEX, a key player in the local low-carbon energy market, completed a record financing of 1.7 billion euros from a pool of lenders, including the four largest French investment banks: BNP Paribas, Crédit Agricole CIB, Natixis and Societe Generale, as well as institutional investors Infranity, Axa Investment Managers and Goldman Sachs Asset Management.

This transaction enables IDEX to refinance its existing debt and sustain its growth trajectory through a dedicated financing line for investments, combined with a commitment for an additional tranche of available credit.

These funds will be promptly deployed towards financing IDEX's ongoing projects, including district heating networks, waste energy recovery units and industrial energy production units.

Linked to IDEX’s ESG performance metrics, which include the carbon intensity of energy production, the share of sustainable investments compliant with European taxonomy and advancements in workplace safety, this environmentally conscious financing reaffirms IDEX's role as a pivotal player in the energy transition. It also strengthens the company's strategy to expedite the rollout of innovative low-carbon solutions.

"In the current economic environment necessitating investor foresight, the renewed trust from our longstanding financial partners coupled with the injection of capital from new leading infrastructure investors serve as a powerful testament of our growth potential in the local low-carbon energy market. With this substantial backing, we are well equipped to enhance our competitive edge and extend our support to an even greater number of clients in their energy transition," said Benjamin Fremaux, IDEX Chairman and CEO.


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