Marks & Spencer Group PLC M&S Signs New RCF Linked to Net Zero Targets (7409V)
December 15 2021 - 3:29AM
UK Regulatory
TIDMMKS
RNS Number : 7409V
Marks & Spencer Group PLC
15 December 2021
MARKS AND SPENCER GROUP PLC
M&S SIGNS NEW GBP850M REVOLVING CREDIT FACILITY LINKED TO
ITS PLAN A NET ZERO TARGETS
Marks & Spencer has agreed a new GBP850m Revolving Credit
Facility. The terms of the new Revolving Credit Facility run until
June 2025 and replace the existing facility, which was due to
mature in April 2023.
Following the reset of its Plan A programme in September, the
new facility is linked to the delivery of its net zero scope 3
target by 2040. Under the terms of its new credit facility, M&S
will benefit from a lower interest rate if it delivers targets
aligned to its net zero roadmap . The designated metrics span the
M&S value supply chain to support its scope 3 net zero goal.
M&S has worked with BNP Paribas as its sustainability
coordinator and the structuring of this facility aligns with the
guidelines set out by the Sustainability-Linked Loan Principles,
published by the Loan Market Association in May 2021.
-Ends-
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