Renewi refinances converts facility to €550 million green loan due 2023

By Tali Rackner

Minneapolis, May 22 – Renewi plc signed an amendment and extension to its main banking facility, converting it to a €550 million green loan, according to a filing with the London Stock Exchange.

The facility was extended to May 2023 with options to extend into 2025. It is structured to allow future green bonds and green debt placements to be issued under the same green framework.

Renewi is wholly focused on sustainability, with the majority of its assets classified as “green” as they support “pollution prevention and control” as defined in the ICMA Green Bond Principles and the LMA Green Loan Principles, according to the filing. It is one of the first FTSE 250 companies to refinance its entire bank borrowings using this green certification.

“The facility is also one of the first to introduce sustainability improvement into the terms of the borrowing facility,” the filing said.

“Accordingly, Renewi will benefit from a lower margin payable on its borrowings in the event that it achieves each of five ambitious sustainability objectives.”

Renewi is a Buckinghamshire, U.K.-based international recycling company.

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