Fazer Group signs an EUR 200 million revolving credit facility linked to sustainability targets
Fazer 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% 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% 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.
For further information, please contact:
Jouni Grönroos, CFO and Deputy CEO, Fazer Group, jouni.gronroos@fazer.com
The Fazer media phone line is open Mon–Fri from 8 am to 4 pm, tel. +358 40 668 2998, media@fazer.com
Fazer Group
Fazer, The Food Experience Company, enables people to enjoy the best moments of their day. In 1891, the young Karl Fazer opened his first café with a mission to make food with a purpose – and a passion to create moments of joy for all the people around him. Shaping the next tastes, traditions and food experiences, Fazer’s vision is Towards Perfect Days. Fazer wants people to experience the Northern Magic it creates and builds on its strong heritage, consumer first approach and innovations to create the sustainable food solutions of the future. The Group focuses on fast-moving consumer goods, operates in eight countries and exports to around 40 countries. In 2020, Fazer Group had net sales of 1.1 billion euros and almost 8,500 employees. Fazer’s operations comply with ethical principles that are based on the Group’s values and the UN Global Compact.
Northern Magic. Made Real.
