Reuters reported that sources familiar with the matter revealed the five-year loans, provided by a group of banks, will have a 70% guarantee under SACE’s Archimede scheme.
The deal could be completed as soon as this month, the sources claimed.
The Archimede programme supports Italian companies investing in areas like digital transformation and the green transition.
Additionally, it allows for up to €60 billion in guarantees through 2029, with €10 billion already used by SACE last year, according to the Treasury’s multi-year budget plan released in April.
Meanwhile, the telecom giant will use the money to upgrade its infrastructure and expand digital services, in line with national and EU digital goals.
This comes as TIM recently sold its fixed-line network last year for €18.8 billion to a consortium led by US fund KKR and including Italy’s Treasury.
The sale, aimed at cutting debt and simplifying operations, helped improve TIM’s credit rating, though it still falls below investment grade.
Meanwhile, just this year it was reported that Poste Italiane became TIM’s largest shareholder with a 24.8% stake, replacing France’s Vivendi.
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