Statkraft signs EUR 1.3 billion sustainability-linked revolving credit facility
Statkraft has signed a EUR 1.3 billion 5-year sustainability-linked syndicated revolving credit facility with two 1-year extension options. The facility replaces Statkraft’s existing syndicated revolving credit facility of NOK 9.2 billion which was signed in June 2016.
Statkraft has a clear commitment to sustainability, and through its activities aims to create value for society, the environment and the company. The facility’s interest margin will be adjusted (premium or discount) based on Statkraft’s performance on three pre-defined strategic sustainability targets on an annual basis.
The targets relate to the company’s development of renewable capacity of hydro, wind and solar power, the company’s commitment to Health, Safety, Security and Environment and share of women in management positions.
The company aims to be a leading renewables company globally by 2025, and a clear focus on sustainability is one of the enablers of this strategy. The company also recognises the importance of the UN Sustainable Development Goals (SDGs) and has an overarching ambition to contribute to combatting climate change which is SDG 13. Most of Statkraft’s activities are classified as EU Taxonomy eligible.
“Statkraft is very pleased with the agreement, with terms reflecting the strong trust and long-term relationship with our core banks. We are committed to a sustainable and responsible business conduct, and continuously seeking to improve the way we do things. As Europe’s largest supplier of renewable energy, we of course want to support our growth strategy by committing to sustainability targets through this facility,” says Anne Harris, CFO of Statkraft.
DNB has acted as Sustainability Coordinator, Mandated Lead Arrangers and Bookrunners and BNP Paribas as Documentation Agent, Mandated Lead Arrangers and Bookrunners of the facility, which is also supported by the following selected group of banks committing as Mandated Lead Arrangers and Bookrunners: Barclays Bank PLC, Danske Bank, Handelsbanken, Nordea, Santander, SMBC, Societe Generale and UniCredit, and with SEB also acting as Facility Agent.