This loan is the first in the world whose company-related premium on the base rate over the entire term is no longer determined according to the financial rating at the established financial rating agencies but purely according to the sustainability rating provided by a sustainability rating agency.
Sustainalytics, a leading global provider of ESG research and ratings, assessed VERBUND and provided the firm with its ESG Risk Rating score, which was used for the syndicated loan. If the sustainability rating of VERBUND declines, the cost of the loan rises; if the sustainability rating of VERBUND improves, the cost of the loan falls. This means that there is an extensive decoupling here from the established financial rating. VERBUND is taking this step with the aim of underscoring the credibility of its sustainability strategy and providing new, international impetus in the direction of Green Finance as a driver of innovation.
|Principal amount:||EUR 500.000.000|
|Issue date:||10. December 2018|
|Maturity date:||10. December 2023|
|Coordinators:||UniCredit Bank Austria, Societe Generale Corporate & Investment Banking|
|Original Lenders:||Bank of America Merrill Lynch, Barclays, Citi, Commerzbank, Erste Group, ING, J.P. Morgan, Helaba, Morgan Stanley, RBI|