Fazer: signs EUR 200 million revolving credit facility

Helsinki / FI. (fg) Finland’s Fazer Group has signed a new EUR 200 million revolving credit facility (RCF) agreement linked to sustainability targets to be used for general corporate purposes. Under the RCF, Fazer is committed to meeting the following two sustainability targets: the reduction of Greenhouse Gas emissions (CO2e) and avoidable production food loss.

The margin payable will increase or decrease depending on Fazer’s performance and achievement of these sustainability KPIs. «This RCF is a milestone in the integration of our financial and sustainability targets as it reinforces the interlinkage between our financial and non-financial performance and further positions Fazer as a sustainability leader,» Jouni Grönroos, Group CFO and Deputy CEO, comments.

Fazer has committed to reducing its absolute scope 1, 2 and 3 greenhouse gas (CO2e) emissions by 42 percent by 2030 from the 2020 base year. These targets are aligned with the scenario that limits global warming to 1.5 degrees. The targets were approved by the Science Based Targets initiative in December 2021. In addition, Fazer has committed to 50 percent less avoidable food loss in the Group by 2030.

Nordea acted as sustainability coordinator, coordinating bookrunner, mandated lead arranger and agent for the transaction. Danske Bank A/S, OP Corporate bank Plc. and Skandinaviska Enskilda Banken AB acted as mandated lead arrangers and bookrunners together with Nordea.

bakenet:eu