Gränges refinances sustainability-linked credit facility
Gränges has refinanced a sustainability-linked credit facility that supports the company's sustainability goals. The facility agreement, arranged by Danske Bank, Nordea, SEB and Citibank, consists of a revolving credit facility of SEK 3,000 million (with the possibility of an increase to SEK 3,500 million) and a loan of USD 70 million. The agreement runs for three years, with the possibility of extension for a further two years.
The financing is linked to the outcome of two sustainability KPIs related to Gränges' climate goals, which are also reflected in the company´s sustainability-linked financing framework. These goals are central in Gränges' ambitious sustainability plan.
“At Gränges, we are committed to integrating our sustainability plan into all parts of our business, including the Group’s financing. We value our good cooperation with our bank partners, who play an important role in supporting Gränges' sustainable development”, said Oskar Hellström, CFO at Gränges.
In connection with the refinancing, the credit facility from 2022 has been repaid. The new agreement is expected to contribute with reduced financing costs and further strengthen the company's sustainability profile.
Danske Bank has acted as sustainability coordinator for the agreement.