PRADA signs €90 million sustainability linked five-year lone with UniCredit.

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PRADA signs €90 million sustainability linked five-year lone with Italian banking group UniCredit. PRADA will also be able to reduce its interest payment on the loan by meeting other quantifiable targets in its sustainability efforts, as evaluated by an independent third-party reviewer.

PRADA launched sustainable “Re-Nylon” collection in 2019, and that same year, PRADA also signed $55 million USD sustainability-related lone with the French banking group Crédit Agricole.

“Sustainability, as a value, is now universally recognised and shared, also by the financial industry,” said PRADA’s chief financial officer Alessandra Cozzani. “For us and for all companies, this results in an important stimulus to achieve increasingly ambitious goals toward a sustainable economy.”