Dr. Ing. h.c. F. Porsche AG: Porsche AG links syndicated credit facility to ESG strategy
|
EQS-News: Dr. Ing. h.c. F. Porsche AG
/ Key word(s): ESG
Financial autonomy further increased Porsche AG links syndicated credit facility to ESG strategy
Porsche AG has signed a syndicated revolving credit facility of €2.5 billion. In total 21 banks from Europe, the Americas, and Asia have taken part in the transaction and will form the strategic core banking group in the future. The credit facility has a term of five years with two one-year extension options. There are currently no plans to draw the credit line as its sole purpose is to further strengthen Porsche’s liquidity position.
In line with Porsche's strategy, a sustainability component has been integrated into the credit line. The financing costs are linked to the development of the share of all-electric vehicles in relation to total deliveries. The syndication process was supplemented by a dialogue between the participating banks and the company's sustainability experts, who explained in detail the strategy and sustainable transformation of Porsche. In 2030, Porsche intends to deliver more than 80% of new vehicles worldwide as all-electric.
Lutz Meschke, Deputy Chairman of the Executive Board and Member of the Executive Board for Finance and IT, explains: “After the IPO in 2022, we further increase our autonomy and diversify our access to financing sources with the new credit line. As with the 2019 green promissory note loan, the new credit line also reflects the strategic importance of sustainability for Porsche.”
Wolfgang Ratheiser, Head of Corporate Finance & Treasury, adds: “Sustainability is a core topic of our strategy and electrification is a key element of this. The transaction has been received positively by the banking market; therefore we could agree to attractive long-term conditions with our core banks.”
Barclays, BNP Paribas, Deutsche Bank and LBBW acted as coordinators for the transaction.
Further information, photo and video material are available on Porsche Newsroom: newsroom.porsche.com
27.06.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
| Language: | English |
| Company: | Dr. Ing. h.c. F. Porsche AG |
| Porscheplatz 1 | |
| 70435 Stuttgart | |
| Germany | |
| Phone: | +497119110 |
| E-mail: | info@porsche.de |
| Internet: | https://www.porsche.com/international/ |
| ISIN: | DE000PAG9113 |
| WKN: | PAG911 |
| Listed: | Regulated Market in Frankfurt (Prime Standard) |
| EQS News ID: | 1666105 |
| End of News | EQS News Service |
|
|
1666105 27.06.2023 CET/CEST
P R O D U C T S U G G E S T I O N S
The information presented here has been provided by our content partner EQS-Group. The originator of the news is the respective issuer, the company relating to the news, a publication service provider (press or information agency) which uses the distribution service of EQS to transmit company news to shareholders, investors, investors or interested parties. The original publications and other company-relevant information can be found at eqs-news.com.
The information you can access does not constitute investment advice. The presentation of our cooperation partners, where the implementation of investment decisions would be possible depending on the individual risk profile, is solely at the discretion of the person using the service. We only present companies of which we are convinced that the range of services and customer service will satisfy discerning investors.
If you are considering leverage products, familiarise yourself with the typical characteristics of the financial instruments beforehand. Take the time to determine the risk content of the planned investment before making an investment decision. Bear in mind that a total loss cannot be ruled out with leverage products.
For newcomers to the subject, we offer various options in both the training and the tools section, through which you can train theoretical knowledge and practical experience and thus improve your skills. The offer ranges from participation in webinars to personal mentoring. The range is continuously being expanded.
1 Lab features are usually functionalities that emerge from the think tank of the investor community. In the early stages, these are experimental functionalities whose development process is largely determined by use and the resulting feedback from the community. When integrating external services or functionalities, the functionality can only be guaranteed to the extent that the individual process elements, such as interfaces, interact with each other.