Share Prices & Company Research

Market News

09 Apr 2021 | 11:32

Coats secures $360m ESG-linked bank refinancing

(Sharecast News) - Industrial thread manufacturer Coats Group announced the completion of a $360m (£262.69m) environmental, social and governance (ESG) linked bank refinancing. The FTSE 250 firm said the three-year facility, with the ability for two one-year extensions, was secured at competitive market rates, on "substantially similar" terms as its previous facility.

It said it included an embedded ESG component, which would impact the margin based on performance against three of the company's published sustainability targets.

Those targets were a reduction in energy intensity, employee engagement as part of the 'Great Place To Work' certification scheme, and the transition to thread made from recycled raw materials.

"We are delighted that the terms of the refinancing highlight Coats' commitment to its sustainability agenda as one of its three strategic pillars, and the good progress the company continues to make towards its 2022 targets," said chief financial officer Jackie Callaway.

At 1044 BST, shares in Coats Group were down 0.37% at 57.79p.
Get in touch today
Join Redmayne Bentley
Talk to us now about opening a new account or transferring your account from another provider
0113 243 6941
Get in touch today
Contact your local office
Contact your local office to find out more
The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.
Continuing our Personal Service: View our Latest COVID-19 Update: 30th April 2021
We use cookies on this site to improve your experience and help us provide you with a better website. An explanation of the cookies we use and their purpose can be found within our Cookie Policy. Your continued use of this site means you consent to the use of cookies.