ICL Unveils Sustainable Revolving Credit Facility

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by KnowESG,

ICL Group Ltd

KnowESG_ICL
Image courtesy of ICL

ICL, a prominent global speciality minerals company, has secured a $1,550 million sustainability-linked revolving credit facility from a consortium of 12 international banks.

The initial term is five years, with an option for a two-year extension, replacing the previous credit facility from 2018.

Aviram Lahav, CFO of ICL, commented, "ICL is delighted to strengthen its sustainability commitment by incorporating targeted and specific sustainability metrics and milestones in its revolving credit facility. This follows our inaugural sustainability-linked loan in September 2021 and reinforces our existing emphasis on ESG practices and transparency in addressing sustainability issues."

The newly established revolving credit facility encompasses three key performance indicators (KPIs) that are in alignment with ICL's sustainability strategy and objectives. These KPIs will be regularly evaluated by third-party certification throughout the five-year term to ensure compliance with the company's sustainability goals.

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Source: ICL Group

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