Euronav Secures €80m Sustainability Linked Loan

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Euronav NV recently signed a EUR 80 million unsecured revolving credit facility, says a press release published on their website.

Sustainability

This new facility, which was significantly oversubscribed has been concluded with a range of commercial banks and the support of Gigarant, with sustainability and emission reductions as a component of the margin pricing.

The flexible financing allows the company to strengthen its financial buffers for daily cash management. The conclusion of this funding brings facilities with an integrated sustainability component to 31.5% of Euronav’s total financing.

Dual objectives

“Sustainability is at the core of what we do at Euronav, with the financing of our operations
being a critical part of this approach”, says Lieve Logghe, CFO of Euronav. “Diversifying
our funding sources whilst at the same time providing a challenging and quantifiable target for our sustainability progress are dual objectives for Euronav. This transaction with
multiple banks achieves this strategic and operational objective.”

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Source: Euronav

 

 

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