- Solvay amended its €1.1 billion multilateral and €0.3 billion bilateral credit facilities.
- The amendments link borrowing costs to GHG emission reduction targets.
- The structure covers Scope 1, 2, and 3 GHG emissions.
- BofA Securities and BNP Paribas coordinated the sustainability structuring.
Credit Facility Amendments
Solvay has revised its €1.1 billion multilateral and €0.3 billion bilateral revolving credit facilities to include sustainability-linked features. These changes align with Solvay's climate roadmap and commitment to reducing greenhouse gas (GHG) emissions.
Linking Costs to Emission Targets
The amendments directly connect the company's borrowing costs to its climate goals, specifically targeting ambitious GHG emission reductions. This structure incentivizes progress on key performance indicators covering Scope 1, 2, and 3 GHG emissions.
Strategic Integration
By embedding sustainability into its financing strategy, Solvay aims to strengthen its focus on addressing climate change. This initiative is part of the company's broader strategy to integrate environmental considerations into its operations.
Coordination and Support
BofA Securities and BNP Paribas served as sustainability structuring coordinators for this initiative, supporting Solvay in aligning its financial practices with its environmental objectives.
