We use cookies and similar technologies on this website ("Cookies"). In order to allow their use to analyze website usage and to enhance functionality, please click on “Accept”. To change the settings and select which specific Cookies we are allowed to use, or to obtain more detailed information, please click on “Details”.

Details

Deny

Accept

Below, you can activate/deactivate the individual technologies that are used on this website.
Consent to all
Required

These Cookies make a website usable by providing basic functions such as page navigation, language settings, and access to protected areas. As the website is unable to function properly without them, you cannot opt out of this kind of Cookies.

Functionality

These Cookies help us to improve the functionality and attractiveness of our websites, and your user experience by saving, for example, your settings, and selections as well as filters, and to recognize your device on subsequent visits.

Analysis

These Cookies allow us, and the service providers (e.g. Google via the Google Analytics service) to collect and analyze information and statistics about your interaction with our website. This helps to optimize our website using the findings obtained.

Glass with coin and a plant

A sustainability component in financing

We have made a name for ourselves as a pioneer in ‘green’ financing.
Since 2019 we have been linking all elements of our corporate financing to a sustainability component. This means that, depending on how we score in the ESG categories of Environmental, Social and Governance, our financing costs will either decrease or increase.

EcoVadis rating as a benchmark for sustainability

We have linked several financing instruments to the development of our sustainability rating. This is how ecologically and socially responsible business operations also have a financial pay-off for us, for example through reduced interest rates or avoided compensation payments.

The sustainability rating prepared by the EcoVadis rating agency is applicable. In its assessment, EcoVadis considers the categories of environment, labor and human rights as well as integrity and procurement. The respective scores are weighted differently in the final result, taking into account the sector to which a company belongs. The 21 assessment criteria make up a maximum score of 100 points. Some of the aspects taken into account are energy and water consumption, CO2 emissions as well as anti-corruption and social practices of suppliers.

Gold status by October 2024

With our current score of 55 points, we are among the top 25% of all the companies rated by EcoVadis. Our goal is to achieve a score of 66 points by October 2024, which is equivalent to a gold status. We would thus rank among the best 5% of all companies assessed by EcoVadis.

  • 2020
    55points
  • 2022
    62points
  • 2024
    66points
  • Total financing volume
    1.2billion
    linked to a sustainability component
  • Compensation payments: If our sustainability rating does not improve within the agreed scope, we will be obliged to pay a surcharge of 2 basis points to UniCredit Bank AG for certain financing instruments. UniCredit Bank will use this money to support sustainable projects. The agreed improvement targets are: at least 62 points by October 2022 and at least 66 points by October 2024.

Convertible bond*

  • In September 2020 we issued a convertible bond, to which we linked a sustainability component in the form of a separate interest derivative.
  • The interest derivative is linked to our EcoVadis sustainability rating.
  • If we do not achieve the specified ratings improvements, we will have to pay a fixed sum to UniCredit Bank AG.
  • The improvement targets are: at least 62 points by October 2022 and at least 66 points by October 2024.
  • Term: 5.3 years
  • Coupon: 0.75%
  • Conversion premium: 40%
  • Total amount
    150m

* The convertible bond has been placed with qualified institutional buyers (QIBs) only and the information above does not constitute an offer or a solicitation of an offer to purchase securities of the Company or any of its subsidiaries in the United States of America, Germany or any other jurisdiction.

Sustainability Schuldschein loans

  • In June 2019 we were the world's first company to issue a sustainability-oriented Schuldschein loan for € 200 million.
  • In March 2020 we issued an additional sustainability Schuldschein loan to the tune of € 115 million, also with a sustainability component.
  • Interest rates are dependent on our EcoVadis sustainability ranking.
  • Threshold for reducing the interest rate: 62 points
  • Total amount
    315m
  • Average interest rates
    0.84% & 0.9 %

Syndicated loan with sustainability component

  • Interest rate linked to the EcoVadis sustainability rating
  • Threshold for reducing the interest rate: 62 points
  • Maturity date: August 7, 2024
  • Total amount
    750m
    cash credit line: € 500 m and guarantee line: € 250 m

Our press releases