Edenred ties social and environmental criteria to one of its financing instruments for the first time
13 Février 2020 - 8:46AM
Edenred ties social and environmental criteria to one of its
financing instruments for the first time
Press releaseFebruary 13,
2020
Edenred ties social and environmental
criteria to one of its financing instruments for the first
time
Edenred has announced that it has
renegotiated its syndicated credit facility, increasing it from
€700 million to €750 million, extending its maturity from July
2023 to February 2025 – with extension options to February 2027 –
and improving the financial conditions. Edenred notably decided to
introduce environmental and social performance criteria into the
calculation of the financing costs.
For the first time in its history, Edenred has
decided to index the financial conditions attached to one of its
financing instruments to environmental and social performance
indicators, taken from the quantitative sustainable development
targets set by the Group for 2022 and 2030.
The two non-financial criteria to be introduced
into the calculation of the syndicated credit facility’s financing
costs relate to:
- promoting healthy and sustainable eating habits – Edenred aims
to reach by 2030 an 85% nutrition awareness rate among merchants
and employees using its solutions (versus 30% in 2018);
- combating global warming – Edenred is targeting a 52% cut in
greenhouse gas emissions intensity1 by 2030 compared with 2013 (26%
reduction in 2018).
The Group’s sustainable development policy has
three focus areas:
- Ideal People: improve quality of life
- Ideal Planet: preserve the environment
- Ideal Progress: create value responsibly
Patrick Bataillard, Edenred’s Executive
Vice President, Finance, said: “The operation’s success is
indicative of the quality of Edenred’s credit2. As well as
strengthening the Group’s liquidity under improved conditions, the
new agreement is perfectly in line with our strategy of generating
sustainable and profitable growth.”
The transaction was arranged by Crédit Agricole
CIB acting as Sole Coordinator and Sustainability Coordinator.
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Edenred is the everyday
companion for people at work. Its leading intermediation platform
connects 50 million employees and 2 million partner merchants via
830,000 corporate clients, across 46 countries. Thanks to its
global technology assets, the Group managed 2.5 billion specific
purpose payment transactions in 2018, primarily carried out via
mobile applications, online platforms and cards, and representing
nearly €30 billion in business volume.Edenred’s 10,000 staff are
driven by a commitment to improving employees’ quality of life,
increasing companies’ efficiency and boosting merchants’ revenues.
They achieve this through three business lines:
- Employee Benefits (food, meals, well-being, leisure, culture
and human services)
- Fleet & Mobility Solutions (fuel, tolls, maintenance and
business travel)
- Complementary Solutions, including Corporate Payment Services
(virtual payment cards, identified wire transfers and supplier
payments), Incentive & Rewards (gift cards and platforms, and
incentive programs), and Public Social Programs.
For more information: www.edenred.com
The logos and other trademarks mentioned and
featured in this press release are registered trademarks of
Edenred S.A., its subsidiaries or third parties. They may not
be used for commercial purposes without prior written consent from
their owners.
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CONTACTS
Communications Department Marie-Laurence
Bouchon+33 (0)1 86 67 20 08marie-laurence.bouchon@edenred.com
Media Relations Matthieu
Santalucia+33 (0)1 86 67 22 63matthieu.santalucia@edenred.com |
Investor
Relations Solène Zammito+33 (0)1 86 67 23
13solene.zammito@edenred.com Loïc Da Silva+33 (0)1 86
67 20 67loic.dasilva@edenred.com
|
1 Targets calculated using the Science Based Targets initiative
methodology in line with the Paris Agreement goals.2 Standard &
Poor’s attributed Edenred a “Strong Investment Grade” rating in
June 2010, which it reaffirmed in its publication dated May 11,
2019.
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