SFL signed a €835 million ($911.8 million) revolving bank credit facility.

The five-year facility (plus two one-year extension options) partially replaces existing lines and also enhances the group’s liquidity.

The credit facility has been syndicated through a banking pool of ten banks. BNP Paribas and CaixaBank acted as sustainability coordinators, while BNP Paribas also acted as transaction coordinator and facility agent.

The new credit facility includes a margin adjustment mechanism based on three ESG performance indicators consistent with the group’s objectives and strategy in terms of carbon emissions reduction, asset certification and rating awarded by GRESB (Global Real Estate Sustainability Benchmark, which analyses and compares the ESG performance and best practices of companies active in the sector).

“This transaction, which, carried out in an uncertain financial environment, reflects the robustness of SFL’s balance sheet, makes it possible to refinance existing lines and gives SFL the means to seize growth opportunities,” Dimitri Boulte, CEO of SFL, said.