ROCKWOOL has secured a new 600 MEUR revolving credit facility to replace the existing facilities. The objectives are to strengthen the company’s capital structure and support the long-term growth of the company.
The revolving credit facility has a built-in pricing mechanism that closely connects its costs to ROCKWOOL’s progress on three sustainability goals that are all externally assured. These three goals cover reducing CO2 emission; increasing the number of countries offering ROCKWOOL’s recycling schemes; and reducing factory waste going to landfill.
Depending on the degree to which ROCKWOOL meets these goals, costs for the new revolving credit facility could rise or fall.
“While we already are a net carbon negative company, we have committed ourselves to ambitious sustainability targets to reduce our carbon footprint and waste from operations and to expand our recycling offerings”, says Kim Junge Andersen, Chief Financial Officer at ROCKWOOL Group. “To measure our progress, it is important for us to have a fact-based and auditable approach to how we maximise our products’ positive impact while minimising the environmental impact of our operations”.
Reflecting on ROCKWOOL’s sustainability efforts, Mirella Vitale, Senior Vice President for Group Marketing, Communications and Public Affairs, says, “Sustainability is at the core of our business. With this new revolving credit facility, we are taking an additional step to further integrate sustainability into our commercial and financial strategy”.
ROCKWOOL’s new sustainability-based revolving credit facility is provided by the company’s main banks, including Nordea, Danske Bank, ING Bank, SEB and Standard Chartered Bank.