AAK AB (publ.) has signed a EUR 400 million sustainability-linked revolving credit facility, renewing an undrawn EUR 400 million credit facility, signed in 2014 and amended in 2018.
The renewed facility will be closely linked to a number of AAK’s sustainability targets, among them the company’s commitment to a 100% deforestation- and conversion-free palm supply chain by 2025.
“The sustainability-linked facility is completely in line with our corporate purpose, Making Better Happen, as well as our three focus areas within sustainability – Better Sourcing, Better Operations and Better Solutions,” said Tomas Bergendahl, AAK’s Chief Financial Officer. “It also clearly emphasises the financial community’s support for our sustainability agenda.”
The five-year facility has two one-year extension options and will serve as a facility for general corporate purposes.
Mandated lead arrangers for the revolving credit facility are Citi, Danske Bank, Mizuho Bank, Nykredit Bank, and SEB, with Danske Bank acting as sustainability coordinator.
AAK specialise in plant-based oils that are the value-adding ingredients in many of the products people love to consume. They say they make these products better tasting, healthier, and more sustainable. At the heart of AAK’s offer is Customer Co-Development, combining their desire to understand what better means for each customer, with the unique flexibility of our production assets, and a deep knowledge of many products and industries, including Chocolate & Confectionery, Bakery, Dairy, Plant-based Foods, Special Nutrition, Foodservice and Personal Care. Their 3,900 employees support their close collaboration with customers through 25 regional sales offices, 15 dedicated Customer Innovation Centres, and with the support of more than 20 production facilities. Listed on Nasdaq Stockholm and with their headquarters in Malmö, Sweden, AAK has been Making Better Happen for 150 years, the company has said.
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Kiran Grewal
Editor, International Confectionery
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