Hempel completes EUR 1.5 billion facilities and links borrowing costs to sustainability targets
World-leading coatings company, Hempel A/S, has completed a EUR 500 million term loan and amendments to an existing EUR 1 billion revolving credit facility. The facility will support Hempel A/S' general corporate and working capital purposes. We have advised Hempel on the matter as well as on the ESG amendments of these two credit facilities linking borrowing costs to four sustainability targets.
The establishment of the new credit facility and amendments to the existing will ensure funds for future M&A projects including potential acquisitions and will implement ESG links with a great focus on sustainability in production. To help meeting Hempel’s sustainability targets, the facilities' interest margin will be adjusted up or down based on Hempel’s ability to meet its four sustainability goals, which includes reduction of CO2 emissions, reduction of waste and phase out of hazardous (red) raw materials.
Hempel A/S is a Danish world-leading supplier of coatings in the decorative, protective, marine and container markets, including coating for boats, hospitals, homes and wind turbines.
We are proud to have represented Hempel A/S as its sole legal advisor advising on this multibank facility, the amendments to the existing multibank revolving credit facility and the sustainability links.
Read more: Hempel links EUR 1.5 billion credit facilities to sustainability targets (hempel.com)
Contact
