The margin of the facility is directly tied to Vattenfall’s achievement of specific Scope 1 and 2 GHG emission intensity thresholds. Credit: Oasishifi/Shutterstock.

Swedish energy company Vattenfall has secured a €2bn ($2.18bn) revolving credit facility linked to its sustainability performance.

The credit facility, which is available for general corporate purposes, has a three-year term with options to extend for two additional one-year periods.

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The margin of the facility is directly tied to Vattenfall’s achievement of specific Scope 1 and 2 greenhouse gas (GHG) emission intensity thresholds.

These thresholds are in line with the company’s 2030 sustainability targets, which have been endorsed by the Science Based Targets initiative.

Vattenfall aims to incorporate its evolving sustainability ambitions into the structure of this sustainability-linked revolving credit facility.

The company highlighted that a total of 15 banks participated in the facility, forming Vattenfall’s core relationship bank group.

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The banks involved in the new credit facility include Barclays Bank Ireland, BNP Paribas, Citibank N.A. London Branch, Cooperative Rabobank U.A., and Credit Agricole Corporate & Investment Bank France Swedish Branch.

Other participants are Danske Bank, Handelsbanken, ING Belgium, and Landesbank Hessen-Thüringen Girozentrale.

Also involved are National Westminster Bank, Nordea Bank Abp filial i Sverige, Royal Bank of Canada, Skandinaviska Enskilda Banken, Société Générale, and Swedbank, serving as mandated lead arrangers and bookrunners.

Société Générale took on the role of coordinator and documentation agent, while Skandinaviska Enskilda Banken acted as the facility agent and sustainability advisor.

This new credit arrangement supersedes an existing €2bn revolving credit facility established in 2020 that had not been utilised.