13 Nov 2025

Dentons advises on Maire €275 million sustainability-linked bond

"Dentons advised Equita, Banca Akros and PKF Attest Capital Markets, acting also as transaction counsel, on MAIRE’s €275 million senior unsecured sustainability‑linked bond. The five‑year issue, offered to Italian retail and European institutional investors and listed on MOT and the Luxembourg Stock Exchange, pays 4.00% fixed (adjustable up to +0.50% if CO2 targets by 31 Dec 2028 are not met)."

Dentons represented Equita, Banca Akros and PKF Attest Capital Markets in the issuance by MAIRE, an engineering group focused on technologies for the energy transition, of a €275 million sustainability‑linked senior unsecured bond. The securities were admitted to trading on the Mercato Telematico delle Obbligazioni (MOT) and on the regulated market of the Luxembourg Stock Exchange. They were offered to retail investors in Italy and to institutional investors across Europe. Equita acted as placement agent and, together with Banca Akros and PKF Attest Capital Markets, as joint bookrunners for the transaction. The bond has a five‑year maturity, a minimum unit size of €1,000 and was issued at 100% of nominal value. It carries a fixed annual interest rate of 4.00%, which may be increased by up to 0.50% if specified CO2 emission reduction targets are not met by 31 December 2028. Dentons represented Equita, Banca Akros and PKF Attest Capital Markets with a team composed by: partner Annalisa Feliciani (team lead); counsel Bianca Chiara Sinisi; associate Edoardo Zeppilli; trainees Niccolò Mauro and Carlotta Ippoliti; partner Roberta Moscaroli and trainee Alessandro Sicilia (Italian tax aspects); partner David Cohen and associates Tom Day and Ed Varney (English law); and partner Jean Luc Fisch with counsel Vincente Quittre and associate Yasmine Sabra (Luxembourg tax).
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