Swedish multinational networking and telecommunications company, Ericsson has signed a $2 billion sustainability-linked revolving credit facility, renewing an undrawn $2billion credit facility signed in 2013.
The facility has a five-year tenor with two one-year extension options and will serve as a facility for general corporate purposes.
According to the company’s Vice President, Sustainability and Corporate Responsibility, Ericsson, Heather Johnson, the successful transaction underlines the confidence in Ericsson’s financial and sustainable performance.
The facility is backed by a group of leading global and regional banks.
“With 18 banks participating, Ericsson has a very strong and diversified bank group. All banks invited to participate in the facility accepted.
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“With over two decades of sustainability research and lifecycle assessments, Ericsson has a long and proud history in the sustainability space.
“We are delighted that we now also can link our climate action targets to Ericsson financial activities.
“Taking this step fully reflects our company purpose, where sustainability is fundamental to the way we do business, “he said.