Corbion inks €300 million loan with sustainability-linked rate

By Marisa Wong

Morgantown, W.Va., June 29 – Corbion announced it signed a new five-year syndicated revolving credit facility with an interest rate that will depend on the company’s year-on-year sustainability performance improvement.

The interest rate on the revolver is linked to sustainability indicators tied to Corbion’s key sustainability initiatives from its “creating sustainable growth” strategy. This strategy is based on responsible sourcing, responsible operations and sustainable ingredient solutions.

Based on the progress on these indicators, a discount or premium may apply to the interest rate on the revolver.

“Sustainability is an integral part of Corbion’s business operations. Aligning our sustainability ambitions and targets with the revolving credit facility underlines this commitment of Corbion,” chief executive officer Tjerk de Ruiter commented in a press release.

The new revolver replaces the company’s existing revolver, providing liquidity for general corporate purposes.

The facility has an initial five-year term, extending the maturity to July 2023, with two additional one-year extension options.

The loan is provided by an international syndicate of seven relationship banks.

Corbion is a food and biochemicals company based in Amsterdam.

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