M&A, Corporate and Financial News

Neste Interest Rate Influenced by Greenhouse Gas Emissions

Neste signs a new EUR 1.2 billion Revolving Credit Facility with a margin linked to its greenhouse gas emissions reduction target.

Neste has signed a new EUR 1.2 billion multi-currency revolving credit facility (“RCF”) with a syndicate of 13 core relationship banks.

The new facility refinances the Group’s existing EUR 1.5 billion facility dated April 2014, and will be used for general corporate purposes.

The facility has a tenor of 5 years with two 1-year extension options.

The margin under the RCF will be adjusted based on Neste’s progress to meet its greenhouse gas emission reduction target.

As part of its aim to become a global leader in renewable and circular solutions, Neste has set strategic climate targets to reduce its own and customers’ greenhouse gas emissions.

Over the past ten years, Neste has focused on producing renewable fuels to replace fossil fuel use.

In 2018, Neste’s renewable products helped customers to reduce their greenhouse gas emissions by 7.9 Mt CO2eq, equalling the combined annual carbon footprint of 1.2 million average EU citizens.

Neste’s target is to reduce customers’ greenhouse gas emissions with its renewable and circular solutions by at least 20 million tons CO2eq annually by 2030.

Refs

Neste signs a new EUR 1.2 billion Revolving Credit Facility with a margin linked to its greenhouse gas emissions reduction target

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