Aton per il Progetto (Aton), has refinanced a EUR70 million (US$70.61 million) debt by signing a financing agreement with Natixis CIB and AG Insurance for the development of a heating plant at the University of Udine, Italy.  The agreement includes long-term bank debt, a fixed rate project bond, and a debt service reserve facility. 

Aton is a special purpose vehicle (SPV) of Vauban Infrastructure Partner and Veolia responsible for the expansion, management and maintenance of a 38MW tri-generation thermal power co-generation plant to provide heating and electricity for Hospital Santa Maria Della Misericordia located at the University of Udine, Italy. 

Natixis CIB acted as lead arranger, transaction and facility agent, Hedge counterpart for both project bond and loan. AG Insurance provided Institutional financing while BNP Paribas Securities acted as NoteHolders’ Representative and as Security Agent. Legal advice to Aton was provided by Dentons Europe Studio Legale Tributario while EY acted as debt advisor. Natixis CIB and AG Insurance were advised by Legance Avvocati Associati in legal matters, Protos Energy, KPMG and AON Italy. IPG Lex&Tax provided legal advice with DAC 6 transaction norms. Ashurst acted as Security Agent.