Published: DEC 12, 2019

December 12, 2019-Home Appliances Group (Louis Dreyfus Company, hereinafter referred to as "Home Appliances Group") today announced that it has renewed two revolving credit loans (RCFs) worth US$400 million for its Europe, Middle East and Africa (EMEA) region , For two and three years respectively, this credit contract includes a pricing mechanism linked to sustainable development consistent with other regions. These bonds were issued by the Swiss subsidiary of the Appliance Group.

Following the North American and Asian revolving credits previously completed by the Home Appliances Group in May and August 2019, this time is its third major business area to link its revolving credit projects with sustainability indicators. The interest rate of the revolving credit loan will be linked to Louis Dreyfus' emission reduction targets in the four areas of carbon dioxide emissions, energy consumption, water consumption and solid waste landfill. According to the agreement, as the home appliance group continues to improve its sustainability performance, the marginal interest rate of revolving credit will decrease year by year. The relevant verification and audit work will be carried out by an independent audit institution.

Federico Cerisoli, Global Chief Financial Officer of the Home Appliances Group, said: “We are very happy to link the revolving credit projects in the three regions of the Home Appliances Group to the company's environmental goals for 2019.” “The promise is more than just. That’s all, it’s more important to involve our entire organization. Therefore, linking the results of these commitments to our financing is a coherent and reasonable step."

Michael Gelchie, Global Chief Operating Officer of Home Appliance Group, commented: “Louis Dreyfus operates in many countries and regions in Europe, the Middle East and Africa, and has a diverse business portfolio. When purchasing, processing and supplying agricultural products and food, we Efforts must be made to minimize the impact on the environment. The financing mechanism related to sustainable development will help us to promote sustainable development within the entire group to achieve our goals and continue to create fair and sustainable value."

The transaction was led and chaired by Crédit Agricole, ING Bank NV, Rabobank, Société Générale and Sumitomo Mitsui Banking Corporation Underwriters and bookkeepers. Credit Agricole, Investment Bank and Rabobank acted as coordinators of sustainable development programs.