Crown closes $3.25 billion sustainability-linked credit facilities

By Sarah Lizee

Olympia, Wash., March 5 – Crown Holdings, Inc. closed $3.25 billion of sustainability-linked syndicated credit facilities led by BNP Paribas, according to a press release.

BNP acted as joint sustainability coordinator.

Crown signed an amendment to its existing credit facilities to, among other things, upsize its prior $2.7 billion syndicated credit facilities due April 2022, reset the maturity date to December 2024 and include financing terms that reduce or increase Crown’s borrowing costs based on any changes in its management score per Sustainalytics.

The management score reflects Sustainalytics’ assessment of Crown’s management of environmental, social and governance issues.

The transaction complements Crown’s other recent sustainability commitments.

Crown Holdings is a Philadelphia-based provider of consumer packaging.

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