CiviSmart lands €120 million debt deal for smart city expansion
What's the deal? CiviSmartDealroom has a profile for this one. Try Dealroom →, an Italian smart infrastructure platform controlled by PatriziaDealroom has a profile for this one. Try Dealroom →, has secured up to €120 million in debt financing from a banking pool. The facility can be increased by a further €50 million.
Who's lending? The pool comprises UniCredit — which also acts as agent and issuing bank — Natixis CIBDealroom has a profile for this one. Try Dealroom →, and Bayerische LandesbankDealroom has a profile for this one. Try Dealroom →.
What does CiviSmart do? It manages over 500,000 public lighting points across Italy as part of public lighting and smart city projects.
What's the money for? CiviSmart will use the financing to rationalise its existing financial structure, fund investments on concessions already in its portfolio, and support future growth. That growth includes acquisitions and joint ventures in the sectors where it operates.
Why it matters for Patrizia. The deal forms part of Patrizia's infrastructure strategy. The firm manages over €11 billion in assets in the infrastructure segment and roughly €56 billion in total assets globally.
The signal: Banks are channelling large debt facilities into smart city infrastructure, backing operators with existing concessions and recurring public contracts. For asset managers like Patrizia, structured bank financing offers a route to scale infrastructure platforms without fresh equity.
Read more: leadersleague.com
Image credit: Elvert Barnes
