Maple Leaf Foods extends sustainability-linked credit facility
July 6, 2022 | By Monica Ferguson
Photo: Maple Leaf Foods. Photo: Maple Leaf Foods.
Maple Leaf Foods completed an extension of its $2 billion sustainability-linked credit facility with its existing. The credit facility consists of a CAD $1.3 billion unsecured committed revolving line of credit maturing in June 2027 and two unsecured committed term facilities in the amounts of US $265 million and CAD $350 million, maturing in June 2027 and June 2026.
“Three years ago, we launched the first sustainability-linked loan in Canada,” said Geert Verellen, CFO, Maple Leaf Foods. “By extending the facility, not only are we continuing to integrate Maple Leaf’s sustainability commitments into all aspects of our business, we are also solidifying our access to capital as we complete near term projects like our state-of-the-art poultry facility in London, Ontario, and position ourselves to capitalize on future growth opportunities.”
The sustainability-linked targets include greenhouse gas emissions, electricity usage, water usage, and solid waste generated.
The facility bears interest based on short-term interest rates and is intended to meet the remaining funding for the completion of its poultry facility in London, Ontario.
