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Kingfisher secures $550m sustainability linked credit facility
StockMarketWire.com
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DIY group Kingfisher said it had entered into a £550 million three-year revolving credit facility agreement with a group of its relationship banks.
The facility was linked to 'ambitious' sustainability and community-based targets, the company said.
Kingfisher said it would benefit from a lower interest rate if it delivered specific targets aligned to its responsible business plan.
These included delivering 1.5 degrees celsius science-based carbon reduction targets by the 2026 financial year.
The previous target was in line with the reductions required to keep global warming to 2 degrees celsius.
Among other targets, Kingfisher had committed to becoming forest positive by the 2026 financial year by creating more forests than it used.
At 8:08am: (LON:KGF) Kingfisher PLC share price was 0p at 294.3p
Story provided by StockMarketWire.com
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