Vattenfall Signs €2B ($2.2B) Revolving Credit Facility with Syndicate of Banks

Vattenfall signed a €2 ($2.2) billion revolving credit facility linked to its sustainability performance. The new credit facility replaces Vattenfall’s existing and undrawn €2 ($2.2) billion revolving credit facility signed in 2020._x000D_
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The new facility, which is available for general corporate purposes, carries a three-year tenor with two one-year extension options. It is a committed bank loan facility that allows Vattenfall to borrow funds at short notice if needed._x000D_
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The facility margin is linked to Vattenfall’s progress in meeting specific Scope 1 and 2 GHG emission intensity thresholds. These thresholds align with Vattenfall’s current 2030 sustainability targets which are approved by the Science Based Targets initiative._x000D_
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As Vattenfall’s sustainability ambitions continue to develop, Vattenfall intends to capture these developments into the structure of this sustainability linked revolving credit facility._x000D_
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“This is an important back-up facility for Vattenfall that ensures that we have financial flexibility,” Maria Paulinz, group treasurer at Vattenfall, said. “The link to our GHG emissions intensity shows that sustainability is integrated throughout our organization, including funding activities. We now look forward to a good cooperation with our core banking group.”_x000D_
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A total of 15 banks participated in the new credit facility. Going forward, they will comprise Vattenfall’s core relationship bank group._x000D_
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Barclays Bank Ireland, BNP Paribas, Citibank (London branch), Cooperative Rabobank U.A., Credit Agricole Corporate & Investment Bank France (Swedish branch), Danske Bank A/S, Handelsbanken, ING Belgium S.A/N.V., Landesbank Hessen-Thüringen Girozentrale, National Westminster Bank, Nordea Bank Abp filial i Sverige, Royal Bank of Canada, Skandinaviska Enskilda Banken AB (publ), Société Générale, Svenska Handelsbanken AB (publ) and Swedbank AB (publ) participated in the transaction as mandated lead arrangers and bookrunners._x000D_
Société Générale acted as coordinator and documentation agent. Skandinaviska Enskilda Banken AB (publ) acted as facility agent and sustainability advisor.