- USD 2 billion
sustainability-linked revolving credit facility signed
- Transaction underlines the confidence in Ericsson's financial
and sustainable performance
STOCKHOLM, Sept. 30, 2021 /PRNewswire/ -- Ericsson (NASDAQ:
ERIC) has signed a USD 2 billion
sustainability-linked revolving credit facility, renewing an
undrawn USD 2 billion credit facility
signed in 2013. The successful transaction underlines the
confidence in Ericsson's financial and sustainable performance and
the facility is backed by a group of leading global and regional
banks.
The renewed facility has a clear link to Ericsson's
sustainability work for a better world and its interest margin will
be linked to two of Ericsson's sustainability KPIs. The first KPI
is tied to carbon neutrality in Ericsson's own operations by 2030
and the second connects with suppliers setting 1.5 C° aligned
climate targets.
The facility has a five-year tenor with two one-year extension
options and will serve as a facility for general corporate
purposes. With 18 banks participating, Ericsson has a very strong
and diversified bank group. All banks invited to participate in the
facility accepted.
Carl Mellander, CFO, says:
"Sustainability is an integral part of Ericsson's strategy and has
been critical for our success in recent years, not least when it
comes to work within energy consumption and the energy performance
of our products. Incorporating sustainability KPIs into this new
credit facility is an important step in our continuous work to
integrate our sustainability ambitions throughout our
operations".
Heather Johnson, VP of
Sustainability and Corporate Responsibility, says: "With over two
decades of sustainability research and lifecycle assessments,
Ericsson has a long and proud history in the sustainability space.
We are delighted that we now also can link our climate action
targets to our Ericsson financial activities. Taking this step
fully reflects our company purpose, where sustainability is
fundamental to the way we do business."
HSBC and SEB acted as Coordinators for the facility,
whilst SEB also acted as Sustainability Coordinator. Swedbank is
the Facility Agent.
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About Ericsson
Ericsson enables communications service providers to capture the
full value of connectivity. The company's portfolio spans Networks,
Digital Services, Managed Services, and Emerging Business and is
designed to help our customers go digital, increase efficiency and
find new revenue streams. Ericsson's investments in innovation have
delivered the benefits of telephony and mobile broadband to
billions of people around the world. The Ericsson stock is listed
on Nasdaq Stockholm and on Nasdaq New York. www.ericsson.com
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Ericsson signs USD 2
billion sustainability-linked revolving credit facility
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