General Mills in Sustainability-Linked Revolving Credit Facility
April 15 2021 - 10:42AM
Dow Jones News
By Michael Dabaie
General Mills said it entered into a sustainability-linked
revolving credit facility.
The food company on Thursday said it renewed its five-year $2.7
billion revolving credit facility, which now includes a pricing
structure tied to environmental impact metrics.
General Mills said it receives a pricing adjustment based on its
performance against environmental criteria during the credit
facility's term.
General Mills will be measured on progress in reducing
greenhouse gas emissions in owned operations and using renewable
electricity for global operations. Sustainability performance will
be measured and communicated in General Mills' annual global
responsibility report, the company said.
The amendment extends the maturity of the credit facility to
2026 and includes 20 of the company's banking partners. Joint lead
arrangers and joint book runners include BofA Securities Inc.,
JPMorgan Chase Bank, Barclays Bank PLC, Citibank N.A, Deutsche Bank
Securities Inc., and BNP Paribas. BofA Securities is acting as the
sustainability coordinator.
Write to Michael Dabaie at michael.dabaie@wsj.com
(END) Dow Jones Newswires
April 15, 2021 10:27 ET (14:27 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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