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(Sharecast News) - Homewares retailer Dunelm Group said on Friday that it has signed a £185.0m sustainability-linked unsecured revolving credit facility with Barclays Bank, Lloyds Bank, National Westminster Bank, Banco Santander, London Branch and Credit Industriel et Commercial.
Dunelm Group stated the facility has an initial term of four years, which may be extended by a maximum of a further two years at its request, subject to lender consent.
The RCF incorporates four sustainability-linked performance targets - a 50% reduction in greenhouse gas emissions by 2030, a 20% reduction in plastic packaging of its own-brand products by 2024, the provision of a customer take-back service for 50% of its products by 2024, and a need for all of its own brand cotton products to meet the company's 'More Responsibly Sourced' standard by 2025.
Dunelm's performance against the targets will be verified by an independent external assurance provider and published in the FTSE 250-listed group's annual report.
Chief financial officer Laura Carr said: "Our sustainability plans have already taken a big leap forward as we continue to pursue our ambition of being sustainable in everything we do. We are delighted to further demonstrate our commitment with this new sustainability-linked revolving credit facility, which is clearly aligned to our Net Zero Pathway.
"We appreciate the support of our banking partners and their alignment with our sustainability ambitions."
As of 0820 GMT, Dunelm shares were up 0.22% at 1,387.0p.
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