Swedish energy company Vattenfall has obtained a €2 billion revolving credit facility, structured to align with its sustainability goals. The facility, which has a three-year term and options for two one-year extensions, is available for general corporate needs and enables Vattenfall to access funds swiftly if necessary, according to the company.
The loan margin is tied to Vattenfall's progress on Scope 1 and Scope 2 greenhouse gas emission intensity targets, which support the company's 2030 sustainability objectives. These targets are endorsed by the Science Based Targets initiative, indicating Vattenfall's commitment to reducing its environmental impact. The credit facility replaces a similar €2 billion facility from 2020 that remained undrawn.
Maria Paulinz, Vattenfall's group treasurer, emphasized the importance of the facility, stating, “This is an important back-up facility for Vattenfall that ensures that we have financial flexibility.” She noted that the link to emissions intensity highlights the integration of sustainability across the company's operations, including financing.
A consortium of 15 banks has participated in the facility, forming Vattenfall's core banking partners. Notable participants include Barclays Bank, BNP Paribas, Citibank, Crédit Agricole, and Danske Bank. Société Générale acted as the transaction's coordinator and documentation agent, while Skandinaviska Enskilda Banken (SEB) served as both facility agent and sustainability advisor.
