AB InBev signs new $10.1 billion Sustainability Linked Loan Revolving Credit Facility
Anheuser-Busch InBev has signed a 10.1 billion USD Sustainability Linked Loan Revolving Credit Facility to replace its existing 9.0 billion USD Revolving Credit Facility. According to reports, this milestone facility is the largest SLL RCF in history, and the first syndicated facility of its kind among publicly listed companies in the alcohol beverage sector.
Chief finance officer, AB InBev, Fernando Tennenbaum stated: “We are excited by the further integration of sustainable finance principles into the capital markets and welcome the opportunity to embed these practices deeper into both our finance organization and the broader company.”
“Our business is closely tied to the natural environment, and it is imperative that we continue to strengthen our leadership in addressing the increasing threats of climate change. Our business and our communities depend on it.”
According to AB InBev, the facility which has an initial five-year term, might be extended by an additional two years. The credit is linked to four main areas of the company’s 2025 Sustainability Goals, which includes: improving water efficiency in our breweries globally, supporting the Water Stewardship Goal; increasing PET recycled content in PET primary packaging, contributing to the Circular Packaging Goal; sourcing purchased electricity from renewable sources as outlined in the RE100 commitment; and reducing GHG emissions as a part of the science-based Climate Action Goal.
José M. Linares, Senior Executive Vice-President of Banco Santander and Global Head of Santander Corporate & Investment Banking stated: “We have a long-standing relationship with AB InBev and are delighted to support the company with this milestone transaction that aligns our institutions’ sustainability priorities. This deal demonstrates AB InBev’s ambition to drive positive change and lead the way in innovation.”
The new facility is provided by a consortium of 26 leading global financial institutions, with ING and Santander acting as Joint Sustainability Coordinators.
Steven van Rijswijk, CEO, ING said: “This major sustainability-linked loan is an important milestone for both AB InBev and the beverage sector as a whole. AB InBev has demonstrated a clear ambition level by incorporating a broad set of material sustainability targets into this core lending facility. I’m proud that ING is supporting AB InBev toward their goals with this sustainable financing structure and at the same time implementing our strategy to help our clients to address climate risks and steer towards a circular economy.”
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