Yara has signed a US$1.1 billion five-year multicurrency revolving credit facility (RCF) with two one-year extension options.
The margin under the Facility will be adjusted based on Yara’s progress to meet its carbon intensity target by 2025, which is to to achieve a 10% reduction in greenhouse gas per tonne of fertilizer produced by 2025.
“Reducing greenhouse gas emission intensity is part of delivering on Yara’s mission of responsibly feeding the world and protecting the planet. By connecting financing to carbon footprint performance, we confirm a clear link between sustainability and profitability,” said Lars Røsæg, CFO of Yara International ASA.
The RCF refinances Yara’s revolving credit facility dated 5 July 2013 and will be available for general corporate purposes. The facility has been signed by a group of 13 international relationship banks.