Sucden announces the refinancing of its Sustainability-linked Revolving Credit Facility
Sucden is pleased to announce the refinancing of its Sustainability-linked Revolving Credit Facility, increased from 600 M$ to 680M$.
This transaction was led by SG (Coordinator and Agent), Coöperative Rabobank and ING acting as active bookrunners. They were joined by 23 banks, of which 3 are new to the facility.
Crédit Agricole Group and BPCE Group remain BMLAs, with SG acting as Global Lead Sustainability Coordinator and ING and Coöperative Rabobank as Joint Sustainability Coordinators.
Sucden’s RCF refinancing includes, as it has been the case since 2021, a sustainability-linked pricing mechanism, linking the interest rate to three key performance indicators which set ambitious targets in addressing important sustainable cocoa and coffee supply chain matters (child labour, deforestation free sourcing, cocoa scope 3 GHG emissions reduction). An interest rate margin adjustment will be granted to an independent universal cause initiative, based on Sucden’s sustainability performance after due verification by an independent auditor.