Companies

Barrick extends its revolving credit facility and creates metrics linked to sustainability.

Published on:
by KnowESG,

Barrick Gold Corporation

moodys 102920

Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) today announced that it has completed an amendment and restatement of the company's undrawn $3.0 billion revolving credit facility. Changes include an extension of the termination date by one year to May 2027, replacement of LIBOR with SOFR as the floating rate mechanism for any US dollar funds drawn down.

Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) today announced that it has completed an amendment and restatement of the company’s undrawn $3.0 billion revolving credit facility, including an extension of the termination date by one year to May 2027, replacement of LIBOR with SOFR as the floating rate mechanism related to the interest rate for any US dollar funds drawn down, and the establishment of sustainability-linked metrics.

The sustainability-linked metrics incorporated into the revolving credit facility are made up of annual environmental and social performance targets directly influenced by Barrick’s actions, rather than based on external ratings.

The performance targets include Scope 1 and Scope 2 greenhouse gas emissions intensity, water use efficiency (reuse and recycling rates), and Total Recordable Injury Frequency Rate (TRIFR)1. Barrick may incur positive or negative pricing adjustments on drawn credit spreads and standby fees based on its sustainability performance versus the targets that have been set.

Senior executive vice-president and chief financial officer Graham Shuttleworth said,

“The extension of the termination date of our undrawn credit facility, combined with our strong balance sheet, highlights the current strength of Barrick’s liquidity, while the establishment of sustainability-linked metrics, along with Barrick’s recently released 2021 Sustainability Report, continues to show Barrick’s commitment to ESG.”

Barrick’s long-term credit is currently rated BBB+ and Baa1 by S&P Global Ratings and Moody’s Investors Service, respectively.

Source: Barrick news

Share:
esg
esg
esg
esg

Companies Headlines

Jollibee Group Teams Up with Sustainable Suppliers

Jollibee Group Teams Up with Sustainable Suppliers

LEVC and Axil Extend Partnership for Sustainable Future

LEVC and Axil Extend Partnership for Sustainable Future

Birla Carbon Gets ISCC PLUS Certification for its Plants

Alora Baby: Rethinking Baby Gear for a Sustainable Future

Dentons' Big Move for Sustainability, Employee Wellbeing

Heidelberg Materials Buys Malaysia's Top Fly Ash Supplier

EDF and Pod Point Team Up for Smart Charging Pilot

Voltalia Wins Major Solar Project in Tunisia

StokedPlastics: Giving Plastic Bottles a Second Life

DS Smith Boosts Production of Sustainable Packaging

More from Barrick Gold Corporation
Barrick's Sustainability Aligned with UN Goals
Barrick's Sustainability Aligned with UN Goals
What Gold Companies Are Doing To Become More ESG Compliant
What Gold Companies Are Doing To Become More ESG Compliant
Performance at Barrick is Fueled by Sustainability
Performance at Barrick is Fueled by Sustainability
Barrick asserts that sustainability is ingrained in our DNA.
Barrick asserts that sustainability is ingrained in our DNA.
Barrick asserts that a holistic plan to ESG will have long-lasting effects.
Barrick asserts that a holistic plan to ESG will have long-lasting effects.
esg
Follow us on
Copyright © 2024
Privacy policyTerms & conditions