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Imperial is pleased to announce the successful conclusion of a R1 billion sustainability-linked revolving credit facility (SSL RCF) with Nedbank Corporate and Investment Banking (CIB). This is Imperial's first-ever sustainability-linked credit facility.
Imperial approached Nedbank in 2021 to consider innovative funding alternatives that align to its focus on ESG (Environmental, Social and Governance). Through active engagement with Imperial on its ESG strategy and debt financing requirements, Nedbank developed a R1 billion sustainability-linked debt instrument under which Imperial aims to deliver on mutually pre-agreed sustainability performance targets over the debt term.
"As a company that prioritises people and planet in addition to profit, ESG is a significant pillar and enabler of Imperial's Group strategy. Securing this R1 billion ESG-linked facility over a three-year period, which is Imperial's first ESG-linked facility, is a milestone in our long-standing partnership with Nedbank ", says Mohammed Akoojee, Group CEO at Imperial.
"We have set key objectives and targets to enable us to achieve our longer term ESG aspirations, which strive for zero harm to people and our environment, as well as identifying viable technologies that will support the transition of Imperial's emissions to net zero by 2050". The savings obtained through this ESG facility from Nedbank will be deployed into green projects that will contribute to Imperial achieving its ESG ambitions," adds Esha Mansingh, Imperial's Executive Vice President of Corporate Affairs & Investor Relations and the Executive responsible for ESG at Imperial.
According to Brad Maxwell, Managing Executive of Investment Banking at Nedbank CIB, "Nedbank increasingly uses ESG indicators to identify opportunities it can progress in partnership with its clients. The Imperial transaction is an example of one such opportunity and has been implemented at a time when Imperial is focusing its business operations to become the logistics and market access gateway to Africa".
"Imperial thanks Nedbank for being a valued partner over the years and for supporting the Group in progressing its ESG journey", concludes Akoojee.