Global law firm Dentons advised a syndicate of banks - composed of BNP Paribas, Crédit Agricole, Intesa Sanpaolo, J.P. Morgan and NatWest Markets - on the issuance of the first green bond by the Italian Ministry of Economy and Finance for a total amount of €8.5 billion.

The bond, maturing on April 30, 2045, has seen demand in excess of €80 billion – making it the biggest debut sovereign green bond from a European issuer to date – and will support the environmental goals and the overall sustainability strategy of the Republic of Italy. In particular, the proceeds will be used to finance several initiatives, ranging from energy efficiency to transport, from circular economy to biodiversity, as set out in the “Framework for the Issuance of Sovereign Green Bonds” published last February.

Dentons acted with a team led by partner Piergiorgio Leofreddi - Head of the Debt Capital Markets group in Italy and member of the ESG and Sustainability group - and composed of partner Roberta Moscaroli for tax aspects and associate Matteo Mosca.

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