20 Apr '17, 11pm

Philips agrees €1bn loan with interest rate linked to sustainability performance https://t.co/9YMbLsQgzW

Philips agrees €1bn loan with interest rate linked to sustainability performance https://t.co/9YMbLsQgzW

Philips has agreed an innovative €1bn loan deal with a consortium of banks that features an interest rate linked to the technology firm's year-on-year sustainability performance. The nature of the credit facility means if Philips' sustainability performance improves, the interest rate it has to pay on the $1bn loan goes down, and vice-versa, the company said. Related articles Philips agrees €1bn loan with interest rate linked to sustainability performance Philips smashes sustainability targets Philips unveils plan to deliver 'carbon-neutral' status by 2020 Philips Lighting chief demands focus on energy efficiency ambition at Paris climate summit Philips said it plans to use the $1bn Revolving Credit Facility, which matures in April 2022, for "general corporate purposes". The loan will replace a previous €1.8bn loan facility, which was never disbursed to Philips. As part of...

Full article: http://www.businessgreen.com/bg/news/3008731/philips-agre...

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