26 April 2023, Israel: ICL, a leading global specialty minerals company, today announced it has entered into a $1,550 million sustainability linked revolving credit facility agreement. The initial term is for five years, with an option for the lenders to extend the period for another two years. The agreement is with a consortium of 12 international banks and replaces the previous revolving credit facility, which was entered into in 2018.
“ICL is pleased to expand on its commitment to sustainability, by enhancing its revolving credit facility to include targeted and specific sustainability metrics and milestones,” said Aviram Lahav, CFO of ICL. “This new facility follows our debut sustainability linked loan in September 2021 and enhances our existing focus on ESG practices, as well as our increased transparency regarding all sustainability issues.”
The new revolving credit facility targets three key performance indicators, which have been designed to align with ICL’s sustainability strategy and goals, and each will be assessed regularly during the five-year term by third-party certification.
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