Our relationship with Alia began in 2022, when we completed a direct transaction with ESTRA SpA, which was later consolidated under Alia in 2023. In 2024, Alia’s management reached out to us seeking support for their new multi-utility project and green investments. In addition, the company looked to satisfy their desire of having an institutional long-term investor that could support capex.
In February 2025, PGIM Private Capital provided Alia with €200 million of Senior Unsecured Notes under a $250 million PGIM Private Shelf Facility. Alongside the Notes issued by PGIM, Alia also closed a club deal with a pool of European banks for €765 million.
Alia’s management was impressed by our ability to issue long-term USPP, which would allow the Company to set up a long-term growth strategy. In addition, they valued (i) working with a relationship-oriented partner with a flexible and pragmatic approach, (ii) the attractiveness of USPP’s terms, and (iii) the possibility of further USPPs to finance capex.
We appreciated this opportunity to once again work with Alia, and we look forward to supporting their future growth.
