Bavarian Nordic Converts Existing Credit Facility into Sustainability-linked Loan
01 Luglio 2024 - 8:30AM
Bavarian Nordic Converts Existing Credit Facility into
Sustainability-linked Loan
COPENHAGEN, Denmark, July 1,
2024 – Bavarian Nordic today announced the conversion of
its existing undrawn DKK 1 billion syndicated revolving credit
facility (RCF) into a sustainability-linked loan (SLL).
The RCF agreement, entered with Danske Bank and
Nordea in October 2023, has a three-year tenor with two one-year
extension options and provides additional financial flexibility,
e.g., to absorb fluctuations in working capital or to fulfil
periodic significant milestone payments related to previous
acquisitions.
As planned, and in agreement with the lenders,
the facility has now been linked to key performance indicators
pertaining to Bavarian Nordic’s sustainability strategy. Hence, the
interest rate margin will be adjusted contingent upon the
successful achievement of predefined key performance indicators
within the following areas, subject to annual assessment by an
independent third party:
- Access to Medicine: Develop and execute on
strategy with the purpose of expanding access to Bavarian Nordic’s
vaccines in low- and middle-income countries.
- Responsible Supply Program: Increase share of
key suppliers that have undergone qualified third-party audit on
environmental, social and governance (ESG) parameters.
- Greenhouse Gas Emissions: Reduce annual Scope
1 and 2 greenhouse gas (GHG) emissions compared to 2023
baseline.
"In recent years, we have significantly expanded
our impact on public health through supply of life-saving vaccines,
while also increasing our commitment towards our growing workforce,
external stakeholders, and society at large. Sustainability is
today an integral part of our strategy and business practices, and
we are therefore pleased to incorporate sustainability targets into
our financial commitments, encompassing both our efforts to support
the green transition and our commitment to improving health across
the globe. This represents an important step in our continuous work
to integrate our sustainability ambitions across all operations,"
said Henrik Juuel, Executive Vice President and Chief
Financial Officer of Bavarian Nordic.
Nordea has acted as Coordinator and
Documentation Agent and Danske Bank as Facility Agent and
Sustainability Coordinator.
About Bavarian NordicBavarian
Nordic is a fully integrated vaccine company with a mission to
protect and save lives through innovative vaccines. We are a global
leader in smallpox and mpox vaccines, supplied to governments to
enhance public health preparedness and have a strong portfolio of
vaccines for travelers and endemic diseases. For more information
visit www.bavarian-nordic.com.
ContactsRolf Sass Sørensen,
Vice President Investor Relations, rss@bavarian-nordic.com, Tel:
+45 61 77 47 43
Grafico Azioni Bavarian Nordic AS (TG:BV3)
Storico
Da Ott 2024 a Nov 2024
Grafico Azioni Bavarian Nordic AS (TG:BV3)
Storico
Da Nov 2023 a Nov 2024
