Statkraft has signed an over €1bn, five-year sustainability-linked syndicated revolving credit facility.
The €1.3bn facility has two one-year extension options and replaces Statkraft’s existing syndicated revolving credit facility of Nkr9.2bn (€946m) which was signed in June 2016.
The facility’s interest margin will be adjusted – premium or discount – based on Statkraft’s performance on three pre-defined strategic sustainability targets on an annual basis.
The targets relate to the company’s development of renewable capacity of hydro, wind and solar power, its commitment to health, safety, security and environment and share of women in management positions.
Statkraft chief financial officer Anne Harris said: “Statkraft is very pleased with the agreement, with terms reflecting the strong trust and long-term relationship with our core banks.
“We are committed to a sustainable and responsible business conduct, and continuously seeking to improve the way we do things.
“As Europe’s largest supplier of renewable energy, we of course want to support our growth strategy by committing to sustainability targets through this facility.”
DNB has acted as sustainability coordinator, mandated lead arranger and bookrunner and BNP Paribas as documentation agent, mandated lead arranger and bookrunner of the facility.
The facility is also supported by Barclays Bank, Danske Bank, Handelsbanken, Nordea, Santander, SMBC, Societe Generale and UniCredit as mandated lead arrangers and bookrunners, and with SEB also acting as facility agent.