• news.cision.com/
  • Elkem/
  • Elkem ASA closes final terms on first sustainability-linked loan agreement

Elkem ASA closes final terms on first sustainability-linked loan agreement

Report this content

Oslo, 15 December 2022

Reference is made to the stock exchange announcement on 27 June 2022 regarding the signing of a new credit facilities agreement of EUR 1,000,000,000 (the "Facilities Agreement").

Elkem ASA (“Elkem” or the “Company”) is pleased to announce that it has successfully closed the final terms in the Facilities Agreement to include sustainability performance targets and key performance indicators. The sustainability targets are based on Elkem’s strategy and social commitment with performance targets linked to health and safety and reduction of the group’s product carbon footprint as outlined in Company’s climate roadmap. The performance targets will provide for adjustments up or down to the margin.

“We are very pleased to conclude our first sustainability linked loan agreement. Elkem has a unique position as one of the world's leading companies in advanced material solutions, and our mission is shaping a better and more sustainable future. The standards we want to work by must reflect this, both in operational activities and in financing. With our new strategy for dual-growth and green leadership in place, it was natural for Elkem to link the margins on the facilities to key sustainability goals," says Morten Viga, CFO of Elkem.

DNB Markets and ABN AMRO Bank N.V. acted as co-ordinators in connection with the syndication of the Facilities Agreement. DNB Bank ASA have acted as the facility agent, and ABN AMRO Bank N.V. have acted as the sustainability co-ordinator in connection with the Facilities Agreement.

For further information, please contact:
Odd-Geir Lyngstad
VP Finance and Investor Relations
Tel: +47 976 72 806
Email:
odd-geir.lyngstad@elkem.com

About Elkem
Elkem is one of the world’s leading providers of advanced material solutions shaping a better and more sustainable future. The company develops silicones, silicon products and carbon solutions by combining natural raw materials, renewable energy and human ingenuity. Elkem helps its customers create and improve essential innovations like electric mobility, digital communications, health and personal care as well as smarter and more sustainable cities. With a strong track record since 1904, its global team of more than 7,000 people has a joint commitment to stakeholders: Delivering your potential. In 2021, Elkem obtained a Platinum score from EcoVadis, which rated the company among the world's top 1% on sustainability transparency, and the company achieved an operating income of NOK 33.7 billion. Elkem is listed on the Oslo Stock Exchange (ticker: ELK). www.elkem.com