CARGOTEC CORPORATION, PRESS RELEASE, 21 DECEMBER 2022 AT 1:00 PM (EET)
Cargotec signs 330 MEUR sustainability-linked revolving credit facility
Cargotec Corporation has entered into an EUR 330 million sustainability-linked revolving credit facility with a syndicate of its seven relationship banks on 21 December 2022. The facility has a tenor of five years with two one-year extension options. The purpose of this facility is to refinance the existing EUR 300 million revolving credit facility maturing in June 2024. With this facility, Cargotec strengthens its long-term liquidity and includes sustainability targets to the facility.
The key performance indicator (KPI) of the facility is directly linked to Cargotec's climate-related performance target, which is to reduce CO2 emissions in our value chain by 50% by 2030.
“The inclusion of emission reduction targets into the facility further demonstrates Cargotec's commitment to climate action and how sustainability is strongly integrated into our company strategy,” says Päivi Koivisto, VP, Sustainability at Cargotec.
For more information, please contact:
Pekka Reijonen, Vice President, Treasury puh. 020 777 4148
Päivi Koivisto, Vice President, Sustainability, puh. 040 743 0306
Cargotec (Nasdaq Helsinki: CGCBV) enables smarter cargo flow for a better everyday with its leading cargo handling solutions and services. Cargotec's business areas Kalmar, Hiab and MacGregor are pioneers in their fields. Through their unique position in ports, at sea and on roads, they optimise global cargo flows and create sustainable customer value. Cargotec has signed United Nations Global Compact Business Ambition for 1.5°C. The company's sales in 2021 totalled approximately EUR 3.3 billion and it employs around 11,500 people.