Deutsche Börse and its subsidiary for post-trading services, Clearstream Banking S.A., enhanced their credit line with a “positive incentive loan”. The financing takes the form of a €750 million consortium credit with a special feature: The development of the credit terms depends on the achievement of specific sustainability targets of the company. The extension by ESG criteria (environmental, social and governance) is a clear commitment of Deutsche Börse Group to establish sustainable finance in all business sectors as well as in its own financing. The transaction was concluded with a bank consortium led by BNP Paribas and Commerzbank.
The sustainability performance of Deutsche Börse Group is verified annually by Sustainalytics, a leading sustainability rating agency. Based on this independent analysis and depending on the development of the ESG rating issued by Sustainalytics, conditions and financing costs of the credit are reaffirmed. The decision to complement the existing credit with a positive incentive element underlines the company’s engagement as co-founder of the “Green and Sustainable Finance Cluster Germany” to establish sustainable infrastructures in the financial economy. Essential sustainability targets of Deutsche Börse Group include good corporate governance and the promotion of a stable financial system.
“The new ESG dimension which we added to the credit agreements reflects how comprehensively sustainability management is viewed within Deutsche Börse Group. This is an additional incentive to further integrate the own business activity in particular with corporate governance and ecological aspects,” said Kristina Jeromin, Head of Group Sustainability, Deutsche Börse and Co-Head of the Green and Sustainable Finance Cluster Germany. “With BNP Paribas and Commerzbank, we have found the right partners for this project.”
Torsten Murke, CEO Corporate & Institutional Banking, BNP Paribas Germany, added: “We are delighted to have advised Deutsche Börse in our role as sustainability coordinator. This successful transaction is the outcome of close cooperation based on the shared understanding of both our companies that sustainable finance is instrumental to an ecologically and socially sustainable economy. Deutsche Börse’s transaction comes just a few days after the German Government’s announcement to make Germany a leading location for sustainable financing. This underlines the determination to help proactively shape a broad economic agenda to promote sustainable finance.”
The credit agreement was syndicated by a group of 20 German and international banks.
