Sanofi links €8B bank line with sustainability targets

Wednesday, 09. December 2020 09:09

French multinational pharmaceutical company Sanofi announced on Wednesday an agreement over two sustainability-linked revolving credit facilities for a total amount of €8 billion. These two facilities are in connection with the company's strategic plan to "secure its long-term financing sources."

The first one is "a new €4 billion revolving credit facility with a deadline of December 2025 and two extension options of one year each." The other one is "an amendment of an existing €4 billion revolving credit facility expiring in December 2021" with the same extension options as the new one.

The company's set goals include a 30% reduction of its carbon footprint, aligned with its science-based targets initiative (SBTI) aim to reach a 55% reduction by 2030, in comparison to 2019 values. As stated in the press release, if Sanofi achieves its annual sustainability performance goals, the lending banks will provide a discount margin.

Related Links: Sanofi S.A.
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Breaking the News / CG