ICL Group, Tel Aviv, said it has entered into a sustainability-linked revolving credit facility (RCF) agreement made between its subsidiary ICL Finance BV and a consortium of 12 international banks for $1.55 billion, guaranteed by ICL.
The sustainability-linked RCF is for a term of five years, with options for the lenders to extend it by two periods of one-year each.
It replaces a previous RCF that was agreed to in 2015 and amended and extended in 2018, due to expire in 2025.
ICL said the pricing structure of the new RCF “is not materially changed” from the previous RCF, “adapted to a SOFR/EURIBOR based pricing mechanism on the loan amount under the new RCF.”