Siemens Energy obtains $3.55bn revolving credit line

Siemens Energy obtains $3.55bn revolving credit line

Siemens Gas and Power (Siemens Energy) has closed a three billion euros ($3.55 billion) sustainability linked syndicated multi-currency revolving credit facility with an international consortium of banks.

The loan amounts, whose interest rate is also linked to sustainability criteria, can be drawn in various currencies. The deal also incorporates a Swingline option of one billion euros for funds that can be drawn at very short notice.

A key component of the credit line is the link to sustainability: the financing costs are linked to the fulfilment of defined key performance indicators (KPI) referring to environmental, social and corporate governance criteria (Environmental, Social and Governance, ESG), which help to reduce the emission of greenhouse gases (CO2 Equivalent) and Lost Time Injury Frequency Rate (LTIFR).

"We are already very well financed for our planned listing