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Raben Group signed its first sustainability-linked loan

2021.07.16

Raben Group has successfully closed a €225 million five-year inaugural sustainability-linked loan (SLL), with a group of 7 banks. This is also one of the first club deal SLL in logistic industry in Europe.

7 financial institutions participated in this transaction: BNP Paribas Bank Polska S.A. acted as Sustainability Coordinator on the SLL, with ING Bank Śląski S.A.serving as Agent and Coöperatieve Rabobank U.A. as Documentation Coordinator. The other banks in the transaction were Commerzbank AG, Mbank S.A., Powszechna Kasa Oszczędności Bank Polski S.A. and UniCredit Bank AG.

The margin on the SLL is tied to the company achieving a comprehensive set of five key performance indicators (KPIs) covering Environmental, Social and Governance (ESG) issues for the road transportation and logistics sector. The KPIs are an innovative mix of both internal KPIs and an external party ESG assessment.

The combination of Raben’s five KPIs address in a comprehensive way the material ESG issues for Raben’s activities, including greenhouse gas (GHG) emissions, gender diversity and governance practices. This SLL thus marks a significant milestone for the European road transportation and logistics sector and for the Polish financial market.

The SLL’s KPIs form part of Raben Group’s ECO2WAY 2025 goals as defined in its 2020 Sustainability Report:

  • 30% reduction of emissions’ intensity in Raben’s facilities
  • 10% reduction of emissions’ intensity in transport activities
  • 96% of fleet with Euro V and VI
  • Relative reductions in road freight as a result of increasing transport efficiency
  • Greenhouse gas calculations – updating and enhancing the CO2 calculator in transport

“Sustainability has been in our DNA already for years and this transaction is the true confirmation of our ambitions and engagement in this area. It is also a huge commitment for our business to continue improving in the future. However, we are happy to take up this challenge because we believe that Raben Group has the strong drive to sustainability,”- said Ewald Raben, Raben Group CEO, adding: “Today’s agreement demonstrates that other sectors such as banks perceive responsible business conduct as crucial for future economy and business. We are delighted to join forces and work together on delivering sustainable solutions for future generations. I am convinced that both the market and the awareness will evolve over the next 3 to 5 years and customers will turn to companies that put sustainability at the heart of their operations.”

“This club deal SLL in the transportation and logistics sector in Poland demonstrates how BNP Paribas Bank Polska can leverage its advisory capabilities to support a leading logistics corporate, Raben Group, in an inaugural ESG-linked financing . As decarbonisation, social impact and governance objectives become a strategic imperative, corporates will increasingly need sustainable finance as a lever to achieve their net-zero ambitions,” said André Boulanger, Vice President of the Management Board, responsible for Corporate and Institutional Banking, SME and Corporate Banking, BNP Paribas Bank Polska.