Coats Group refinances with $360 million three-year ESG-linked facility

By Marisa Wong

Los Angeles, April 9 – Coats Group plc announced it completed a $360 million ESG-linked bank refinancing.

The three-year facility, equipped with two one-year extension options, has been secured at competitive market rates on substantially similar terms as the previous facility, according to a press release.

The refinancing facility includes an embedded ESG component that impacts the margin based on performance against three of the company’s published sustainability targets: reduction in energy intensity, employee engagement as part of the Great Place To Work certification scheme and the transition to thread made from recycled raw materials.

Coats is an industrial thread manufacturer based in Uxbridge, England.

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