Slaughter and May advised AB Electrolux on its EUR 1,000,000,000 sustainability-linked revolving credit facility
Slaughter and May advised AB Electrolux (“Electrolux”) on a EUR 1,000,000,000 sustainability-linked multicurrency revolving credit facility (the “Facility”). The Facility matures in 2026 with an option for two one-year extensions and contains a sustainability-linked margin ratchet based on performance against three key performance indicators (“KPIs”). The KPIs align with Electrolux’s sustainability strategy and its ambitions to be climate neutral in operations by 2030, to be a leader in energy-efficient products which reduce carbon emissions while in use; and to continue ensuring the health and safety of employees.
Citibank and SEB acted as Co-ordinating Mandated Lead Arrangers and Bookrunners, whilst SEB also acts as Sustainability Coordinator. Danske Bank acts as Facility Agent and a group of 11 banks make up the syndicate in total.