Cases & Deals

ING Capital and ING Bank execute €59.1 million facility agreement with Italian spv

Clients ING Capital LLC and ING Bank N.V., Milan Branch

Jones Day advised ING Capital LLC and ING Bank N.V., Milan Branch in the execution of a new €59.1 million facility agreement governed by Italian law by and between an Italian spv, as borrower, ING Bank N.V., Milan Branch, as mandated lead arranger, green structuring coordinator, and original lender, ING Bank N.V., as agent, and BayernLB, as original lender and mandated lead arranger. The financing implemented a margin ratchet linked to certain sustainability requirements related to the energy performance of the mortgaged property based on BREEAM In-Use Certification and in compliance with the Green Loan Principles issued by the Loan Market Association as at February 2021.