WALLDORF — SAP SE (NYSE: SAP) signed new €3 billion sustainability-linked revolving credit facility.
SAP has successfully closed a new sustainability-linked revolving credit facility with a volume of €3 billion and a tenor of five years plus two one-year extension options. The facility was syndicated among a group of 20 core relationship banks. A possible future drawdown is not bound to any financial covenants. The new facility replaces the existing €2.5 billion facility.
In line with SAP’s strategic commitment to sustainability, a sustainability component has been embedded in the new credit facility for the first time. The included ESG-component links the margin of the new facility to the company’s net zero carbon and women in management ambitions.
“Our new revolving credit facility constitutes a very strong pillar in our overall financial strategy. With the higher volume and the new ESG linkage it further enhances our financial flexibility and additionally underpins SAP’s commitment to sustainability,” CFO Luka Mucic said.
Citibank, Commerzbank AG, Landesbank Hessen-Thüringen Girozentrale and ING Bank were mandated as coordinators, bookrunners and lead arrangers in the transaction.
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