Zumtobel Group AG: Sustainability pays off: Zumtobel Group optimises financing

Dornbirn (pta015/13.06.2023/11:00 UTC+2)

The Zumtobel Group's syndicated loan agreement was linked to the lighting company's strategy and performance in the area of sustainability. As is usual in a sustainability-linked loan, the financing costs vary depending on the realisation of defined sustainability targets: For the Zumtobel Group, the performance in the area of the EcoVadis sustainability rating and the reduction of CO2 emissions in Scope 3 are considered.

A focus on Scope 3 emissions
The Zumtobel Group recently joined the Science Based Targets initiative (SBTi) to reduce CO2 emissions along the entire value chain in line with science-based net-zero targets. Here, the focus is on Scope 3 emissions, which account for the largest share of emissions along the value chain.

Continuous improvements with EcoVadis
The independent platform for sustainability ratings EcoVadis awarded the Zumtobel Group's sustainability performance a renewed Gold medal in April this year. Despite an increased rating scale and stricter criteria, it was possible to maintain the Gold status and significantly improve the overall points score: With a leap from 71 to 75 points, the Austrian lighting company was able to particularly distinguish itself in the area of sustainable procurement.

The syndicated loan agreement signed at the end of 2021 serves the purpose of general corporate financing and secures the long-term availability of liquidity with a maximum utilisation limit of EUR 125 million. The agreement currently runs until December 2027. An extension option to prolong for a further year is included in the agreement, as well as a clause to increase the loan up to EUR 350 million.

Members of the banking syndicate:
Raiffeisen Bank International AG
UniCredit Bank Austria AG
Commerzbank AG
SEB AB
Bank für Tirol und Vorarlberg Aktiengesellschaft
Hypo Vorarlberg Bank AG

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Emitter:	Zumtobel Group AG Höchster Straße 8 6850 Dornbirn Austria
Contact Person:	Eric Schmiedchen
Phone:	+43 5572 509 1125
E-Mail:	eric.schmiedchen@zumtobelgroup.com
Website:	z.lighting
ISIN(s):	AT0000837307 (Share)
Stock Exchange(s):	Vienna Stock Exchange (Official Trade)