Huhtamäki Oyj has signed a EUR 400 million syndicated multicurrency revolving credit facility loan agreement (“RCF”) with a maturity of three (3) years.
The RCF refinances an existing EUR 400 million credit facility signed in January 2015 and will be used for general corporate purposes of the Group. The RCF has two one-year extension options and the interest margin is tied to three sustainability indicators:
- Share of renewable or recycled material in products
- Share of non-hazardous waste recycled
- EcoVadis rating
“This new financing agreement speaks to how Huhtamaki is serious about its ESG ambitions. By directly linking sustainability to our financing, we are taking yet another step in embedding sustainability in everything we do,” says Thomas Geust, CFO of Huhtamaki.
The Mandated Lead Arrangers and Bookrunners of the RCF are Citigroup Global Markets Limited, Nordea Bank Abp, Skandinaviska Enskilda Banken AB (publ), BNP Paribas S.A., Commerzbank Aktiengesellschaft, DBS Bank Ltd., London Branch, Handelsbanken Capital Markets, Svenska Handelsbanken AB (publ), J.P. Morgan AG, Landesbank Hessen-Thüringen Girozentrale, OP Corporate Bank Plc, Raiffeisen Bank International AG and Standard Chartered Bank.
Huhtamaki is a key global provider of sustainable packaging solutions for consumers around the world, enabling wellbeing and convenience. Our innovative products protect on-the-go and on-the-shelf food and beverages, ensuring hygiene and safety, and help prevent food waste. We embed sustainability in everything we do. We are committed to achieving carbon neutral production and designing all our products to be recyclable, compostable or reusable by 2030.
We are a participant in the UN Global Compact and as of 2020, we received an MSCI ESG Rating of A, on a scale of AAA ─ CCC. To play our part in managing climate change, we have committed to set science-based targets through the Science Based Targets initiative. Huhtamaki has been awarded the Silver medal by EcoVadis for performance in sustainability.
With 100 years of history and a strong Nordic heritage we operate in 36 countries and 81 sites around the world. Our values Care Dare Deliver guide our decisions and help our team of 18,600 employees make a difference where it matters. Our 2019 net sales totaled EUR 3.4 billion. Huhtamaki Group is headquartered in Espoo, Finland and our parent company, Huhtamäki Oyj, is listed on Nasdaq Helsinki Ltd. Find out more about how we are protecting food, people and the planet on www.huhtamaki.com.