Fluidra formalizes its first sustainable financing agreementMarch 30, 2021
It has converted its syndicated credit line of €130 million into ESG-linked financing with BBVA as sustainability coordinator.
S&P has awarded it an ESG rating of 69 out of 100, in line with the consumer goods sector.
Fluidra, the global leader in the pool and wellness equipment sector, has been assessed for its performance in Environmental, Social and Corporate Governance (ESG) by S&P, which awarded it a rating of 69 out of 100 based on a quantitative and qualitative analysis of the company’s sustainability strategy. This rating is in line with the average score of businesses in the consumer goods sector that are committed to ESG.
Thus, Fluidra has converted its syndicated credit line of €130 million, which was signed off in 2018, into green financing, also called ESG-linked loans, in a process in which BBVA acted as sustainability coordinator.
The financial conditions of this loan will now be subject to the company’s performance in environmental, social and governance matters, and will be assessed by S&P annually.
“Fluidra’s ESG rating reflects the track record of its product and marketing innovation, adequate governance, as well as evolving sustainability strategy in an industry moderately exposed to social and environmental risks”, highlights the document released by S&P.
This operation, which is the first sustainable financing arranged by a company in the pool sector, has been earmarked to finance the group’s working capital requirements.
Fluidra is a responsible and socially committed company that develops its business model following approaches based on innovation and sustainability. Their link to the United Nations Global Compact demonstrates how much it believes in the importance of corporate social responsibility, as Fluidra has voluntarily taken on the commitment to implement the ten principles established by the United Nations (UN) for sustainable development, based on respect for human rights, labor and the environment, in addition to the fight against corruption.
By linking the financial conditions of this credit line to its performance on environmental, social and governance matters, Fluidra has now taken a further step forward in its commitment to sustainability.