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- Gränges refinances sustainability-linked credit facility
Gränges refinances sustainability-linked credit facility
Gränges has refinanced a sustainability-linked credit facility that supports the company's sustainability goals. The facility agreement, arranged by Danske Bank, Nordea, SEB and Citibank, consists of a revolving credit facility of SEK 3,000 million (with the possibility of an increase to SEK 3,500 million) and a loan of USD 70 million. The agreement runs for three years, with the possibility of extension for a further two years.
The financing is linked to the outcome of two sustainability KPIs related to Gränges' climate goals, which are also reflected in the company´s sustainability-linked financing framework. These goals are central in Gränges' ambitious sustainability plan.
“At Gränges, we are committed to integrating our sustainability plan into all parts of our business, including the Group’s financing. We value our good cooperation with our bank partners, who play an important role in supporting Gränges' sustainable development”, said Oskar Hellström, CFO at Gränges.
In connection with the refinancing, the credit facility from 2022 has been repaid. The new agreement is expected to contribute with reduced financing costs and further strengthen the company's sustainability profile.
Danske Bank has acted as sustainability coordinator for the agreement.
For further information, please contact:
Oskar Hellström, CFO and Deputy CEO
oskar.hellstrom@granges.com, phone: +46 8 459 59 00
Gustav Mårtensson, VP Group Treasury
gustav.martensson@granges.com, phone: +46 706 44 80 15
About Gränges
Gränges is a global leader in aluminium rolling and recycling in selected niches. We’re committed to creating circular and sustainable aluminium solutions in partnership with our customers and suppliers - for a better future. Our solutions help customers grow and transition to climate neutrality. They are used for efficient climate control in transportation and buildings, electrification and battery components, recyclable packaging, and more. Gränges has production facilities and conducts sales in the regions Americas, Asia, and Europe with 2,700 employees and a total annual production capacity of 610 ktonnes. The share is listed on Nasdaq Stockholm (GRNG). More information is available at www.granges.com.
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