sustainability

Siemens Gas and Power GmbH & Co. KG (Siemens Energy) has successfully closed a €3 billion ($3.5 billion) sustainability linked syndicated multi-currency revolving credit facility with an international consortium of banks.

The loan amounts, whose interest rate is also linked to sustainability criteria, can be drawn in various currencies.

The deal also incorporates a Swingline option of €1 billion ($1.1 billion) for funds that can be drawn at very short notice.

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The financing costs are linked to the fulfillment of defined key performance indicators referring to environmental, social and corporate governance criteria, which help to reduce the emission of greenhouse gases (CO2 Equivalent) and Lost Time Injury Frequency Rate (LTIFR). 

Maria Ferraro, CFO of Siemens Energy, said: “We are already very well-financed for our planned listing at the end of September. The new credit line will provide Siemens Energy with additional financing that can be drawn on at short notice, thus ensuring additional flexibility.

“The agreement has a term of three years with two one-year extension options and serves general corporate purposes.”