Exolum announces its first sustainable financing of £500 million

Exolum announces its first sustainable financing of £500 million


Exolum has taken a significant step in aligning its decarbonisation goals with its financial strategy by signing its first sustainable loan, amounting to £500 million. The financing, supported by a syndicate of 17 banks, was contingent on the establishment of a Sustainable Finance Framework within nine months of the agreement. This framework incorporates key corporate social responsibility indicators.

The Sustainable Finance Framework, a cornerstone of the loan agreement, adheres to the 2023 Sustainability-Linked Bonds Principles and Sustainability-Linked Loans Principles. It focuses on three primary environmental, social, and governance indicators: reducing carbon and greenhouse gas emissions, minimising the Serious Injuries and Fatalities rate, and improving the Process Safety Event Rate related to industrial safety. Compliance with these indicators will influence the margin applicable to the loan, reinforcing Exolum’s commitment to measurable sustainability outcomes.

Crédit Agricole CIB served as the sustainability coordinator for the framework, while S&P Global Ratings and Sustainable Fitch provided independent reviews as Second Party Opinion providers. Santander and CaixaBank acted as Mandated Lead Arrangers and Bookrunners, with BBVA fulfilling the role of Mandated Lead Arranger and Agent Bank. Legal counsel was provided by Linklaters for Exolum and Clifford Chance for the participating banks.

Jorge Lanza, CEO of Exolum, emphasised the strategic significance of the financing arrangement:
“This new sustainable financing strengthens our commitment to decarbonisation and sustainability, encompassing both our operations and the services we offer to our customers. This agreement not only increases the importance of sustainability in our company but also links it to an area as strategic as finance. At Exolum, we have a Master Plan that will enable us to achieve emissions neutrality by 2040. In addition, by 2026, two thirds of our energy consumption in Spain will come from renewable sources, thanks to long-term power purchase agreements and our self-consumption photovoltaic plants.”

The agreement represents a milestone for Exolum, embedding sustainability into its financial operations and reinforcing its broader ESG ambitions.

For more information visit www.exolum.com

20th December 2024