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McBride secures €175m of sustainability linked debt
StockMarketWire.com
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Cleaning products group McBride said it had secured a €175 million austainability linked credit facility.
The revolving facility was initially for a five year tenor with the option to be extended to 30 September 2027 and was provided by a syndicate of international banks.
It included a €75 million uncommitted accordion feature, which could provide additional commitments for potential acquisitions.
The debt incorporated three sustainability performance targets including McBride increasing the percentage of energy from renewable to 70% in the 2026 financial year, up from 5.9% in the 2020 financial year.
Conditions around recycled content and responsible sourcing also were incorporated into the loan.
Story provided by StockMarketWire.com
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