Energy Efficiency, GHG Emissions, Finance - January 2, 2023
Guess?, Inc. Expands Credit Facility With Sustainability-Linked Component
Guess?, Inc. announced that it has expanded its access to capital in North America to include annual interest rate and fee adjustments based on the company’s achievement of certain sustainability goals in its operating and manufacturing processes.
The company entered into a $150 million senior secured asset-based revolving credit facility with a term of five years. This facility amends and extends its existing $120 million North American credit facility.
This North American credit facility is similar to its new European credit facility that was established earlier this year that has sustainability goals in its operating and manufacturing processes.
“We are very pleased to finalize this credit facility, which expands our access to capital in North America and extends our existing facility for another five years,” said CEO Carlos Alberini in a statement. “Combined with this year’s new €250 million European facility, the Company will now have access to over $400 million of capital across both North America and Europe, which reflects our lenders’ confidence in our business strategies and financial position. Importantly, both facilities also include sustainability incentives, which align our financial and sustainability goals and underscore our commitment to protecting the environment by integrating sustainability into our operations.”