750 million syndicated loans maturing in October 2024, in order to integrate environmental, social, and governance (ESG) criteria. Measurable elements of the non-financial performance of Wendel and its portfolio companies will now be taken into account in the calculation of the cost of financing of this syndicated loan. They are aligned with certain quantitative ESG objectives that the Group has set in its ESG 2023 roadmap.
“The integration of ESG criteria into our credit line demonstrates our commitment to aligning financial and extra-financial performance, a pillar of sustainable value creation for all our stakeholders. With the help of our eight banking partners, we wanted to mark the integration of the extra-financial performance of Wendel and the Group’s companies through representative and measurable criteria,” said Jérôme Michiels, Executive Vice President, and Chief Financial Officer.
If you want to find more details about the company Wendell and its plans to include ESG criteria into the financial terms of its undrawn criteria, download for free the Born2Invest mobile app. Our companion app brings you the most important business headlines from the most trusted sources around the world.
The three extra-financial criteria selected for inclusion in the calculation of the cost of financing of the syndicated loan are as follows:
The systematic performance of ESG due diligence for new investments made directly by Wendel and the implementation of an ESG roadmap by the controlled companies in its portfolio;
The evaluation and implementation of action plans on climate risk and carbon footprint at the level of controlled portfolio companies;
The achievement by the end of 2023 of a minimum total percentage of 30% of women among the directors appointed by Wendel within the portfolio companies and certain Group holding companies.
These criteria will be assessed annually by an independent third party and will result in adjustments to the margin of the syndicated loan.
This transaction is fully in line with Wendel’s ESG strategy, communicated in the first quarter of 2020, in particular an ambitious roadmap to 2023 for Wendel and its companies based on a dual objective: to position Wendel as a leader in sustainable development among its peers, and to drive a process of excellence and exemplarity for its portfolio companies. Wendel is the only French company in the Diversified Financials sector to be included in the DJSI World and Europe benchmark indexes, alongside the best-performing companies in terms of sustainable development worldwide.
(Featured image by nattanan23 via Pixabay)
DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.
This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.
First published in BOURSE DIRECT, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.
IgG Antibodies to SARS-CoV-2 Acquired after Natural Infection are Maintained Beyond 12 Months
A seropersistence study shows that IgG antibodies generated after natural infection are maintained beyond 12 months. This study reveals that...
DIA Unveils the Group’s First Sustainability Plan
DIA Group has announced its sustainability plan. It is based on 15 lines of action grouped into three categories: environmental...
What’s Next, Inflation or Deflation? What Does it Mean for the Markets?
The credit markets should be freezing up and the stock market should be plunging from record-high valuations by that time....
Five Important Questions to Ask Before Investing in Gold
Before investing in gold, you should due your diligence in order to make wise choices. The question of whether your...
As Inflation Fears Deepen, Stablecoins Become Irresistible
With the consumer price index rising and the purchasing power of the U.S. dollar on the decline, people are seeking...
Featured7 days ago
Finlombarda Invests 1.5 Million in a Fund Promoted by P2P Lending October to Finance SMEs in Lombardy
Crowdfunding7 days ago
DeFi Projects Raised $200 Million in 2020 and $1 Billion since 2017
Africa7 days ago
Entrepreneurship: the Region Laâyoune-Sakia El Hamra Launches the Program RIYADA
Crypto7 days ago
Dirham Project: the World’s First Regulated Stable Currency