Slaughter and May advised Ericsson on its USD 2,000,000,000 sustainability-linked revolving credit facility
Slaughter and May advised Ericsson on a USD 2,000,000,000 sustainability-linked unsecured revolving credit facility with 18 leading global and regional banks. The facility has a five-year tenor with two one-year extension options and contains a sustainability-linked margin ratchet based on performance against two sustainability KPIs. The first KPI is tied to carbon neutrality in Ericsson’s own operations by 2030 and the second relates to suppliers setting 1.5 C° aligned climate targets.
HSBC and SEB acted as Coordinators for the facility, whilst SEB also acted as Sustainability Coordinator. Swedbank is the Facility Agent.