July 2, 2021
Fresenius signs 2 billion euros syndicated revolving credit facility with a link to sustainability
Fresenius has successfully signed a €2 billion syndicated revolving credit facility with an international consortium of 29 core relationship banks. It has a maturity of five years with two one-year extension options and can be drawn in various currencies.
The new credit facility replaces the existing €1.1 billion and US$500 million revolving credit facilities, originally entered into in 2012 and amended from time to time. It is intended to serve as a backup line for general corporate purposes. The increased volume will further strengthen Fresenius’ liquidity profile and increase the company’s financial flexibility.
A key component of the new credit facility is the link to sustainability: Emphasizing Fresenius’ commitment to embed sustainability in all aspects of its business, the credit facility’s margin will be adjusted up or down according to changes in Fresenius’ sustainability performance. This is Fresenius’ first sustainability-linked financial transaction, demonstrating the increasing importance of sustainable financing.
Rachel Empey, Chief Financial Officer of Fresenius, said: “Sustainability is deeply rooted in our thinking and actions, at all levels. That is why it is important to us to take sustainability into account in our financing strategy. At the same time, with this credit facility we have increased our financial flexibility and further optimized our financing structure. In this way we are supporting investments in future growth and securing the company’s long-term success.”
This release contains forward-looking statements that are subject to various risks and uncertainties. Future results could differ materially from those described in these forward-looking statements due to certain factors, e.g. changes in business, economic and competitive conditions, regulatory reforms, results of clinical trials, foreign exchange rate fluctuations, uncertainties in litigation or investigative proceedings, and the availability of financing. Fresenius does not undertake any responsibility to update the forward-looking statements in this release.