REG - Marks & Spencer Grp - M&S Signs New RCF Linked to Net Zero Targets

Marks and SpencerAnnouncement

15/12/2021 09:30

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20211215:nRSO7409Va&default-theme=true

RNS Number : 7409V  Marks & Spencer Group PLC  15 December 2021

MARKS AND SPENCER GROUP PLC

M&S SIGNS NEW £850M REVOLVING CREDIT FACILITY LINKED TO ITS PLAN A NET
ZERO TARGETS

 

Marks & Spencer has agreed a new £850m Revolving Credit Facility. The
terms of the new Revolving Credit Facility run until June 2025 and replace the
existing facility, which was due to mature in April 2023.

 

Following the reset of its Plan A programme in September, the new facility is
linked to the delivery of its net zero scope 3 target by 2040. Under the terms
of its new credit facility, M&S will benefit from a lower interest rate if
it delivers targets aligned to its net zero roadmap
(https://eur01.safelinks.protection.outlook.com/?url=https%3A%2F%2Fcorporate.marksandspencer.com%2Fmedia%2Fpress-releases%2F5ff7017fc6fe1bc26cb21d12%2Fmands-resets-plan-a-with-pledge-to-cut-its-carbon-footprint-by-a-third-by-2025-as-part-of-its-commitment-to-be-fully-net-zero-by-2040&data=04%7C01%7CKayleigh.Redhead%40marks-and-spencer.com%7C090196843c5e4ba1ce9d08d9bf9e583d%7Cbd5c671373994b31be7978f2d078e543%7C1%7C0%7C637751509066741721%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000&sdata=4fHDFL87NW5J1gusTZ%2BJ1aoikHzcTIqEFYCvJEoY8cM%3D&reserved=0)
. The designated metrics span the M&S value supply chain to support its
scope 3 net zero goal. M&S has worked with BNP Paribas as its
sustainability coordinator and the structuring of this facility aligns with
the guidelines set out by the Sustainability-Linked Loan Principles, published
by the Loan Market Association in May 2021.

 

-Ends-

For more information, please call:

Corporate Press Office:
                                0208 718 1919

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCFFASUIEFSEEE