PZ Cussons Announces New Credit Facility
PZ CUSSONS ANNOUNCES INNOVATIVE NEW CREDIT FACILITY LINKED TO B CORP AMBITIONS
PZ CUSSONS ANNOUNCES INNOVATIVE NEW CREDIT FACILITY LINKED TO B CORP AMBITIONS PZ Cussons plc (“PZ Cussons”, “the Group”, “the Company”) today announces that it has agreed a new £325 million committed credit facility, provided by a syndicate of lenders. The credit facility incorporates both a term loan and revolving credit facility (“RCF”) structure, with maturity dates of up to November 2028, and replaces the existing £325 million RCF facility due to expire in November 2023.
The facility includes a pricing structure linked to PZ Cussons’ new sustainability framework – “Better For All” – incorporating ESG Key Performance Indicators (KPIs) focused on achieving B Corp certification, reduction in virgin plastic packaging and reducing carbon emissions*.
Sarah Pollard, Chief Financial Officer of PZ Cussons, said: “We are delighted to announce this refinancing, demonstrating our commitment to embed our sustainability framework into all parts of our business, while achieving attractive commercial terms. We are grateful for the support of our lending syndicate in this highly innovative facility.”