(Alliance News) - Dunelm Group PLC on Friday said it signed a GBP185 million sustainability-linked unsecured revolving credit facility.
The Leicester-based home furnishings company explained that the new facility would replace its old one that wad due to expire in March 2023.
Further, the company entered the revolving credit facility with Barclays Bank PLC, Lloyds Bank PLC, National Westminster Bank PLC, Banco Santander SA, London Branch and Credit Industriel et Commer.
The revolving credit facility has an initial term of four years and can be extended by two more years at Dunelm's request.
Lastly, it is linked to four sustainability-related performance targets that align with Dunlem's "ambitious" sustainability plans, the company said.
These targets include a 50% reduction in Dunelm's greenhouse gas emissions by 2030, all own-brand cotton products to meet its More Responsibilby Sourced standards by 2025, a 20% reduction in plastic packaging of own-brand products by 2024 and the provision of a customer take-back service for 50% of its products by 2024.
"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," Chief Financial Officer Laura Carr said.
Shares were up 0.2% at 1,387.00 pence each on Friday morning in London.
By Abby Amoakuh; abbyamoakuh@alliancenews.com
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Dunelm (DNLM)