Air Liquide has signed an amendment to its €2bn syndicated credit line for a correlation scheme between its financial costs and three of its Corporate Social Responsibility (CSR) targets regarding carbon intensity, gender diversity and safety.
The credit line, syndicated by the group’s core banks, was initially negotiated in December 2018 for a period ranging from 2018 to 2023, with two extension options of a year each. In a traditional way, its cost was linked to market rates and to the borrower’s credit quality.
From now on, an indexation mechanism will also link an increase or decrease of the financing cost and commissions paid to annually fixed targets for each criteria.
The three selected criteria for the amendment have not been specifically created for the scheme but are already key to Air Liquide’s sustainable development strategy.
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