Banco BPM, BPER Banca, Banca Popolare di Sondrio, and Finlombarda support new investments by Lario Reti Holding

The financing, with a total value of 62 million euros, will enable the implementation of the 2022-2045 industrial plan with initiatives benefiting the territory, including the reduction of losses in water distribution networks, thanks to digitization and network monitoring.

A consortium of banks, composed of Banco BPM, BPER Banca, and Banca Popolare di Sondrio, with the participation of Finlombarda – a financial company of the Lombardy Region – has signed an agreement with Lario Reti Holding for financing totaling 62 million euros, divided into multiple tranches. This financing combines the protection of water resources with digital utilization, aligning with the objectives of the National Recovery and Resilience Plan (PNRR).

The operation aims to support Lario Reti Holding's environmentally impactful investments, as the integrated water service provider for the entire province of Lecco, including new projects defined by the Lecco Area Office to meet the territory's needs.

"Thanks to the support from top-tier financial intermediaries, we will be able to implement the 2022-2045 industrial plan and carry out the related initiatives," said Lelio Cavallier, President of Lario Reti Holding. "This includes a strong focus on reducing losses in water distribution networks, which will be achieved through digitization and network monitoring."

"We are pleased to be the lead bank in this important operation for Lario Reti Holding, a public sector company performing a fundamental role for the region," commented Roberto Perico, Head of the Bergamo Brescia Lario Regional Directorate at Banco BPM. "Our financial support will contribute to a development plan centered on innovation and sustainability, two essential assets for shaping the future, with our products and services, in support of businesses and the country."

"BPER Banca has long supported companies that invest in the region with the aim of improving the quality of services provided," stated Marco Mandelli, Chief Corporate & Investment Banking Officer of BPER Banca. "Our Corporate and Investment Banking Division is steadily growing thanks to the provision of targeted products and services that can support companies making a concrete contribution to the Italian production fabric."

"The financing for Lario Reti Holding, in which Banca Popolare di Sondrio has also participated, is fully in line with our commitment to collaborate with companies that operate with significant long-term and sustainability-oriented projects to protect and develop the territory," said Mario Alberto Pedranzini, CEO and General Manager of Banca Popolare di Sondrio. "Contributing with concrete support to such strategic initiatives for safeguarding water resources, aimed at increasing digital utilization in line with the PNRR objectives, reaffirms our active and responsible role in serving the economic and social fabric of the communities in which we operate."

"With this operation, we confirm our commitment to finance strategic sectors for sustainable economic development in the Lombardy region, including the integrated water service," said Andrea Mascetti, President of Finlombarda Spa. "We are delighted to have participated alongside leading financial intermediaries in financing Lario Reti Holding, a company constantly engaged in investments for digital transition, efficiency, and the improvement of water quality for the citizens of the province of Lecco."

"The regional finance company's participation in the consortium," stated Massimo Sertori, Regional Councilor for Local Authorities, Mountain Areas, Energy Resources, and Water Resource Utilization, "adds to the contributions provided by the Lombardy Region in recent years to support the Lecco Area Office through the 'Interventions for Economic Recovery' fund established by Regional Law no. 9 of May 4, 2020. This fund has allocated a total of 124 million euros to the Lombardy Integrated Water Service. In this province, the financing amount was approximately 8 million euros. We hope that these resources will soon be complemented by those from the National Recovery and Resilience Plan. In this regard, the Lecco Area Office, in collaboration with Lario Reti Holding and with the support of the Lombardy Region, has prioritized a request for a contribution of approximately 1.5 million euros, and we are awaiting the Ministerial Decree formalizing its allocation."