Fasadgruppen converts existing MSEK 2,700 credit facilities agreement into sustainability-linked loans
Fasadgruppen Group AB (publ) ("Fasadgruppen") today announces the conversion of its existing MSEK 2,700 credit facilities agreement into sustainability-linked loans which was made in connection with the acquisition of Clear Line as announced on 29 October 2024. The amended sustainability-linked credit facilities agreement has been entered into with Nordea, SEB and Svensk Exportkredit. The interest rate margin under the credit facilities agreement is tied to three key performance indicators (“KPIs”) which are linked to Fasadgruppen’s work with reducing long-term work related injuries and its Scope 1, Scope 2 and Scope 3 emissions.
Fasadgruppen, Nordea, SEB and Svensk Exportkredit have entered into an amended MSEK 2,700 sustainability-linked facilities agreement in connection with the acquisition of Clear Line as announced on 29 October 2024. The facilities have a remaining term of three years to 2027, subject to further extensions of one year. The interest rate margin impact is up to ± 0.05% per annum if all three sustainability performance targets for the KPIs are met.
The sustainability-linked loans will support Fasadgruppen’s intention to minimize both work related injuries sustained as a result of, and the impact on the climate and nature through, its operations and/or its value chain. The agreed KPIs are part of Fasadgruppen’s wider sustainability strategy, and Fasadgruppen shall pursuant to the sustainability-linked facilities agreement among others:
- Reduce the long-term work related injury frequency.
- Reduce its Scope 1 and Scope 2 market based GHG emissions.
- Reduce the Scope 3 GHG emissions intensity.
- Increase the share of suppliers with validated science-based targets by share of spend in purchased goods and services.
Martin Jacobsson, CEO of Fasadgruppen said: “We continue to see good opportunities to consolidate the facade markets in our various geographies, and with the amended credit facilities agreement, we have the right conditions in place. Our ambition is to professionalise the entire industry, and therefore the sustainability link is also important to demonstrate the connection between our financing and Fasadgruppen's sustainability strategy."
Advisors
In connection with the transaction, Fasadgruppen has retained Gernandt & Danielsson Advokatbyrå as legal advisor in Sweden and Burges Salmon LLP as legal advisor in the UK. Skandinaviska Enskilda Banken AB (publ) and Nordea Bank Abp, filial i Sverige have been mandated as Sustainability Coordinators.