Saint-Gobain has signed a €4 billion backup facility with a group of banks maturing in December 2028.

(Boursier.com) — Saint Gobain today signed with a group of banks a backup facility of 4 billion euros maturing in December 2028, including two extension options of one additional year each. It replaces two available credit lines of 2.5 and 1.5 billion euros maturing in December 2024.

The credit line is a “Sustainability-Linked Loan” (SLL); its margin is indexed on three performance indicators linked to Saint-Gobain’s sustainable roadmap, with ambitious objectives for 2030 compared to the 2017 reference year:
– Reduce CO2 emissions by 33% in absolute terms for scopes 1 and 2.
– Achieve an 80% reduction in non-recycled production waste.
– Maintain an accident frequency rate less than or equal to 1.5 per 1 million hours worked.

The operation was largely oversubscribed with bank commitments exceeding 5 billion euros. 31 banking groups of 12 nationalities participate in this credit line, thus demonstrating their confidence in Saint-Gobain’s credit…