Finance - July 11, 2022
Dollarama Converts to Sustainability-Linked Credit Facilities
Dollarama Inc. announced that it has amended its existing syndicated credit facilities to convert them to a sustainability-linked loan ("SLL") with available credit of C$1,050 million.
"We are proud to be among the first Canadian retailers to integrate ESG targets to our credit agreement. This marks another important step in our ESG journey, as we pursue our growth strategy and seek to create sustainable value for our stakeholders," said Neil Rossy, President and CEO in a statement.
The SLL for the Canadian retailer is tied to two specific sustainability performance targets related to the Corporation's overall Environmental, Social and Governance strategy and which are linked to incentive pricing terms. These targets are Climate Change and Energy Management: Reduction of Scope 1 and Scope 2 greenhouse gas emissions intensity, and Diversity, Equity and Inclusion: Increase of female gender representation in management positions.