(Alliance News) - Coats Group plc announced on Friday the completion of a USD360 million environmental, social & corporate governance-linked bank refinancing.
The thread manufacturer's refinancing package will have a three year facility with the ability for two one-year extensions.
The refinancing includes an embedded ESG component which impacts margin based on performance against three of Coats's sustainability targets. These are reduction in energy intensity, employee engagement and the transition to products made from recycled materials.
Shares in Coats were trading 0.3% lower at 57.80 pence in London on Friday.
By Will Paige; willpaige@alliancenews.com
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Coats (COA)