Cemex announced the successful closing of a new loan of 500 million euros over three years linked to sustainability terms, whose resources will in turn be used to pay another debt, as notified in a statement on Tuesday.
The loan, denominated exclusively in euros, has been issued under the company’s green financing framework ‘Future in Action’increasing the amount of debt that is linked to this strategy and its vision of a carbon-neutral economy.
All sustainability-linked loans issued under the framework have the same metrics and interest rate margin adjustments.
“This new loan represents a continuation on our journey to align the company’s financing with our climate strategy, while building on our long-standing banking relationships,” said Cemex CFO Maher Al-Haffar.
The manager also pointed out that the transaction allows in turn to take advantage of the current market volatility to generate value for shareholders.
The ‘joint bookrunners’ and ‘joint lead arrangers’ have been BBVA, BNP Paribas, Citigroup and Mizuho Bank. In turn, BBVA acted as a sustainability structuring agent in the operation.
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