KARLSHAMN, SWEDEN – AAK has signed a €400 million ($476 million) revolving credit facility linked to sustainability. The signing renews an undrawn €400 million credit facility signed in 2014 and amended in 2018. The renewed facility will be linked to several of AAK’s sustainability targets, including a company commitment to make its palm supply chain deforestation-free and conversion-free by 2025.
The five-year facility has two one-year extension options and will serve as a facility for general corporate purposes. Mandated lead arrangers for the revolving credit facility are Citi, Danske Bank, Mizuho Bank, Nykredit and SEB. Danske Bank acted as sustainability coordinator.
“The sustainability-linked facility is completely in line with our corporate purpose, Making Better Happen, as well as our three focus areas within sustainability: better sourcing, better operations and better solutions,” said Tomas Bergendahl, chief financial officer for Karlshamn-based AAK. “It also clearly emphasizes the financial community’s support for our sustainability agenda.”