Henkel Reorganises Syndicated Credit Lines, Opts For Green Loan
Consumer goods giant Henkel has announced that it has concluded a €1.5 billion 'green loan' credit facility that will replace its existing €700 million and €800 million revolving credit lines.
The interest rate of the new green loan, which Henkel claims is a first of its kind for the sector in Germany, will be based on the company's sustainability ratings.
“We are convinced that sustainability is becoming increasingly important for the financial markets and investors,” said Henkel CFO, Carsten Knobel.
“The agreement underlines our leading position in sustainability and at the same time emphasises our ambition to improve further our very good rating positions in this area.”
Henkel’s sustainability performance will be rated by three sustainability assessment providers: Sustainalytics, EcoVadis, and ISS-oekom
The agencies were included to ensure a balanced and comprehensive assessment of Henkel's sustainability performance.
Banco Santander and UniCredit coordinated the transaction and acted as active book runners, while BayernLB, Commerzbank and Goldman Sachs participated as lead arrangers.
Bank of America, BNP Paribas, Citibank, Deutsche Bank, HSBC, ING, J.P. Morgan, Royal Bank of Scotland, Société Générale, and Standard Chartered Bank acted as book runners.
© 2018 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: European Supermarket Magazine.