(Alliance News) - ATON Green Storage Spa announced Thursday that the board has approved new bank financing transactions related to the increase of overdraft facilities referring to existing relationships.

In detail, with Intesa Sanpaolo Spa, it was decided to sign an additional credit line for the disposal of tax credits for EUR1.5 million, two new unsecured loans for EUR6.0 million, guaranteed by SACE and InvestEU Fund, and operations to hedge against the risks of changes in interest rates on loans.

As for the relationship with Banco BPM Spa, a new EUR2.0 million mortgage was signed; with UniCredit Spa, on the other hand, a new EUR6.0 million mortgage was opened.

The banking transactions are aimed at partially replacing revocable credit lines with unsecured loans; extending the term of existing unsecured loans, gradually replacing those maturing; supporting the company's development in the agro-industrial solar sector; financing the operations in which ATON will operate as general contractor and which will be settled in the form of assignment of credit; and guaranteeing medium-term financial requirements in anticipation of a possible contraction in the credit sector.

ATON Green Storage's stock is unchanged at EUR6.20 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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