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  23/06/2017 | Industry, International

Barry Callebaut couples sustainability with its renewed banking credit facility

Barry Callebaut successfully amended and extended its revolving credit facility. For the first time in Switzerland, the applicable credit margin is linked to the sustainability performance of Barry Callebaut, reported by Sustainalytics. The most recent Sustainalytics performance of Barry Callebaut increased from 67 to 72. This score is an outstanding achievement that makes Barry Callebaut an Outperformer in its industry sector. ING is the Sustainability Coordinator of the facility, as part of a syndicate of 13 banks. The credit facility amount increased from € 600 m to € 750 m, further strengthening the Group’s liquidity profile. The tenor is extended by three years to 2022, perfectly matching with the Group’s maturity profile.

Victor Balli, CFO of Barry Callebaut, said: “I am pleased to be able to increase and extend our revolving credit facility with our core banks, which is proof of our excellent long-standing relationship. Following the announcement of our ambitious sustainability strategy `Forever Chocolate` last November, I am proud that we are one of the pioneers in the green loan area. Linking the interest rate to our sustainability performance makes perfect business sense for us and the financial industry”.

www.barry-callebaut.com