Crown Holdings Credit Agreement

Post di admin del 9 aprile 2021 in

The refinancing agreement provides for a $650 million revolving facility, $700 million of the additional currency turning facility Crown has signed an amendment to its existing credit facilities, including increasing its former syndicated credit facilities by $2.7 billion, due in April 2022, re-entering the December 2024 maturity date and providing financing terms that reduce or increase the cost of Crown`s credit based on possible changes to its management score for Susalystic. This management score reflects Sustainalytics` assessment of Environmental, Social and Governance Management (“ESG”) by Crown. The transaction complements Crown`s other recent sustainability commitments. As part of a strengthened credit contract, the facilities have a five-year term from April 7, 2022 Source Code: (bit.ly/2oA20Df) New corporate hedging: last month, BNP Paribas collaborated with JetBlue Airways to conclude the first sustainable revolving credit facility for an airline. The Bank also entered into Canada`s first sustainable development credit facility with WSP Global, one of the world`s leading professional services companies, and in January concluded a bilateral revolving credit facility, coupled with incentives, with Brookfield Renewable Partners, one of Canada`s first SLLs. The agreement is divided into an $800 million loan, a five-year, five-year loan, a 400 million euro loan ($538 million), a five-year five-year loan for five years, a $300 million farm loan and a $1.2 billion-to-five-year revolver. Prices open at L/E-175, with lenders being offered between 25 and 50 basis points in advance. Through Crown HoldingsCrown Holdings, Inc. is, through its subsidiaries, a leading global supplier of rigid packaging products for consumer marketing and product marketing companies, transit and protection packaging equipment and services for a wide range of terminal markets. The world headquarters is located in Yardley, Pennsylvania. For more information, see crowncork.com.

“We are pleased to announce today with Crown the conclusion of more than $3 billion in union loans related to sustainable development,” said Cambyse Parsi, Director of Sustainable Finance at BNP Paribas. “At BNP Paribas, we are committed to helping our clients achieve their ESG goals, and our partnership with Crown is another important step in achieving our own goals as a bank for a changing world. Crown intends to use the proceeds of the offer to repay certain existing credit debts under Crown`s credit contract. The announcement marks Crown as the first packaging company in North and South America to guarantee sustainability conditions for its syndicated credit facilities, and is one of the largest sustainable development loans ever taken out in the world. Yesterday, S-P assigned a BBB issue rating and a clawback rating to the new proportional lending package and stated that Crown`s BONitets bb- valuation remains on CreditWatch, with negative effects. It expects Crown`s ratings to be lowered to BB after the completion of the Mivisa acquisition. “We are pleased to be the first packaging company in North and South America to provide a syndic and sustainable credit facility,” said Kevin Clothier, Vice President and Treasurer of Crown Holdings, Inc. “We have made many efforts to make Crown a more sustainable company, and we believe that the new facility puts into context our commitment to sustainability by linking our borrowing costs to Sustainalytics` view of management`s ESG performance. On April 7, the company entered into an amended credit agreement – revised for the December 19, 2,013 – SEC Deposit In January, The Company has entered into an offer of 4.5% of priority unsecured bonds, maturing in 2023, for the $400 million pending as part of its 2017 notes, and to repay $500 million as part of its priority secured credit facility.