Zaandam, Netherlands-based Ahold Delhaize has announced the closing of its €1.5 billion sustainability-linked revolving credit facility.
The new facility increases the total revolving commitments from €1-1.5 billion, reduces Ahold Delhaize’s borrowing costs, and extends the maturity date to December 2027, which may be further extended pursuant to two twelve-month extension options.
The facility links the cost of borrowing to Ahold Delhaize’s annual performance on sustainability KPIs that are aligned with its “Grounded in Goodness” strategy, that focuses on healthier people and a healthier planet.
Specifically, the facility includes three sustainability KPIs to reduce Ahold Delhaize’s carbon emissions within its own operations (scope 1 and 2), reduce food waste and help customers make healthier choices. The facility also includes the opportunity to add scope 3 carbon emissions reduction performance targets by 2025.
Ahold Delhaize will report progress on its performance targets in its annual reports.
ABN AMRO Bank N.V. and Société Générale acted as coordinators and sustainability coordinators on the facility.
Ahold Delhaize is one of the world’s largest food retail groups. Its family of local brands serves 55 million customers each week, both in stores and online, in the U.S., Europe and Indonesia. These brands has more than 413,000 employees in 7,452 grocery and specialty stores.
The company’s focus on four growth drivers – drive omnichannel growth, elevate healthy and sustainable, cultivate best talent and strengthen operational excellence – is helping to fulfil its purpose, achieve its vision and prepare its brands and businesses.
To read more news from the company presented by The Shelby Report, click here.
