17th Jan 2022 10:32
(Alliance News) - ITV PLC announced on Monday it has agreed a five-year revolving credit facility linked to its sustainability goals.
The British media company has secured GBP500 million of credit from Barclays Bank PLC, BNP Paribas SA, Credit Suisse Group AG, Mizuho Bank Ltd, National Westminster Bank PLC, and Wells Fargo Bank NA.
The facility will run until January 2027, and replace an existing one, which was due to mature in 2023. It is linked to ITV delivering on its carbon emissions targets. If ITV can deliver results in line with its net-zero targets, it will be afforded a lower interest rate. This will be verified externally on an annual basis.
ITV did not provide details on what the proceeds will be put towards.
Chris Kennedy, ITV's chief operating officer & chief financial officer, said: "The inclusion of ESG targets within this important financing demonstrates ITV's further commitment to achieve net zero targets by 2030."
ITV shares rose by 2.1% to 120.35 pence each in London on Monday morning.
By Elizabeth Winter; [email protected]
Copyright 2022 Alliance News Limited. All Rights Reserved.
Related Shares:
ITV