AB InBev: shares dip after new credit facilty
(CercleFinance.com) - Anheuser-Busch InBev fell on Thursday after the world's largest brewer agreed to tap a new credit facility that is linked to sustainability milestones.
The 10.1 billion dollar sustainability-linked loan, the largest of its kind in history, replaces an existing 9 billion dollars revolving credit facility, AB InBev said in a statement on Thursday.
The facility - which has an initial five-year term that could be extended by a further two years - includes a pricing mechanism that incentivizes improvement in the company's 2025 sustainability goals, it said.
These targets include improvements in the brewer's water efficiency, an increase in recycled-plastic content in its packaging, and sourcing purchased electricity from renewable sources.
AB InBev shares are currently down over 1.4%, slightly underperforming a 1.2% drop in Brussels' BEL index.
Copyright (c) 2021 CercleFinance.com. All rights reserved.
The 10.1 billion dollar sustainability-linked loan, the largest of its kind in history, replaces an existing 9 billion dollars revolving credit facility, AB InBev said in a statement on Thursday.
The facility - which has an initial five-year term that could be extended by a further two years - includes a pricing mechanism that incentivizes improvement in the company's 2025 sustainability goals, it said.
These targets include improvements in the brewer's water efficiency, an increase in recycled-plastic content in its packaging, and sourcing purchased electricity from renewable sources.
AB InBev shares are currently down over 1.4%, slightly underperforming a 1.2% drop in Brussels' BEL index.
Copyright (c) 2021 CercleFinance.com. All rights reserved.