ele2 AB announces it has signed its first Sustainability-Linked Revolving Credit Facility, further underlining Tele2’s commitment to be a leader in sustainability.
The Sustainability-Linked Revolving Credit Facility (RCF) is linked to sustainability targets and the margin adjustments are conditional upon the achievement of targets within climate and gender equality.
This credit facility and the scope of the targets are further evidence of how our sustainability strategy is an integrated part of our business operations. It follows the issuance of our first sustainability-linked bond earlier this year and provides further tangible links to the implementation of our sustainability strategy, says Charlotte Hansson, CFO, Tele2.
The EUR 700 million RCF refinances Tele2’s existing EUR 760 million facility dated 12 January 2016 with a group eight banks. The RCF has a tenor of five-years with two one-year extension options and will be used for general corporate purposes and working capital requirements.
ING Belgium SA/NV, Nordea Bank and Skandinaviska Enskilda Banken (publ) acted as Coordinating Mandated Lead Arrangers and Bookrunners. Nordea Bank acted as Sustainability Coordinator. Crédit Agricole CIB, Deutsche Bank Luxembourg S.A., DNB ASA, Sweden Branch, Svenska Handelsbanken and Swedbank AB (publ) joined in syndication as Mandated Lead Arrangers and Bookrunners.