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Industrial thread manufacturer Coats said it had completed a $360m ESG-linked bank refinancing.
The three year facility, with the ability for two one-year extensions, has been secured at 'competitive market rates, on substantially similar terms as the previous facility,' the company said.
'It includes an embedded ESG component which impacts the margin based on performance against three of the company's published sustainability targets,' it added.
'These are a reduction in energy intensity, employee engagement as part of the Great Place To Work certification scheme, and the transition to thread made from recycled raw materials.'
At 9:40am: (LON:COA) Coats Group PLC share price was 0p at 66p