Fluidra has signed an agreement to convert a 130 million euros syndicated credit line subscribed in 2018 into ‘green’ financing. BBVA acted as a sustainable coordinator for the process.
So from now on, the conditions of this financing are subject to the company’s performance in environmental, social and governance (ESG) matters, and will be evaluated by S&P on an annual basis, according to a statement from the company on Tuesday.
S&P has given Fluidra a score of 69 out of 100 following a quantitative and qualitative analysis of the company’s sustainability strategy. This is in line with companies in the consumer goods sector.
This is the first sustainable financing formalised by a company in the sector and will be used to cover the firm’s working capital needs.
Fluidra has assured that with this operation it “is taking another step forward in its commitment to sustainability” after adhering to the United Nations Global Compact.