DGAP-News: CECONOMY AG lays the foundation of its post-pandemic financing structure with new €1 billion ESG-linked syndicated revolving credit facilities
b'The issuer is solely responsible for the content of this announcement.\nD\xc3\xbcsseldorf, 6 May 2021 - Today CECONOMY AG ("CECONOMY") has successfully signed new ESG-linked syndicated revolving credit facilities of \xe2\x82\xac1.06 billion with a consortium of its 13 partner banks.
- b'The issuer is solely responsible for the content of this announcement.\nD\xc3\xbcsseldorf, 6 May 2021 - Today CECONOMY AG ("CECONOMY") has successfully signed new ESG-linked syndicated revolving credit facilities of \xe2\x82\xac1.06 billion with a consortium of its 13 partner banks.
- The new syndicated revolving credit facilities are intended to replace the existing syndicated revolving credit facilities with the participation of KfW as a back-up line.\nThe new facilities are split into a five-year tranche with a volume of \xe2\x82\xac707 million and a three-year tranche with a volume of \xe2\x82\xac353 million in order to diversify the maturity profile.
- In addition, both tranches have the option of being extended twice for one year each.
- The new facilities will become effective once the existing syndicated credit lines have been terminated at the sole discretion of CECONOMY.\nFurthermore, the interest on the syndicated loan is linked to three annual ESG targets.