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Pernod Ricard signs first sustainably linked loan for €2.1bn

Pernod Ricard has announced the signing of its first sustainably linked loan, with the €2.1bn helping to refinance an existing facility set to expire next summer.

The facility in question is linked to two different environment commitments. The first is the reduction in absolute greenhouse gas emissions on operated sites, and the second is the reduction of water consumption per unit produced at its distilleries.

The transaction said by Pernod Ricard to be indicative of the brand’s commitment to integrate sustainability into its daily operations and its financial strategy.

The group previously launched two sustainably linked bond issues in 2022. 

Chief sustainability officer Vanessa Wright commented: “As part of our Sustainability & Responsibility roadmap 'Good Times from a Good Place', we're committed to preserving the world's natural resources by reducing carbon emissions, water consumption and waste throughout our value chain. The Group's recent sustainability-linked facility is another demonstration of our drive to reduce our environmental footprint and protect the natural ecosystems, where we source all the ingredients that make our iconic brands.”

For the transaction, BNP Paribas acted as coordinator and documentation agent, while Crédit Agrocole CIB acted as ESG coordinator.

5 May 2023 - Bradley Weir