NLMK Group has amended the terms for its EUR 250-million revolving credit facility. The financing costs of the facility will now be linked to the company’s sustainability performance that will be assessed by Sustainalytics, a provider of environmental, social and corporate governance research and ratings. The ESG rating change will result in the adjustment of the credit facility’s financing costs. ING acted as the Sustainability Coordinator of the facility, while UniCredit as its Agent.
Grigory Fedorishin, NLMK Group CEO and President, said: “This type of transaction reaffirms our commitment to the sustainable development strategy. The company’s performance in this area has been highly recognized by the independent ESG rating providers and demonstrates significant progress.”
Maarten Koning, Global Head Structured Commodity Finance at ING, said: “Sustainability is one of our core values, and enabling our clients to further drive their sustainability agenda is a key priority. ING is proud to be part of NLMK’s journey and we are keen to keep on supporting them.”
Antonio Keglevich, Global Head of Sustainable Finance Advisory at UniCredit, commented: “By linking the sustainability performance of the company to the terms of a credit facility, NLMK is setting market standards for steelmakers not only in Russia, but also globally. At UniCredit we are honoured to have been selected to participate in this important transaction.“ (NLMK/Ukrainian metal)