A reduction in virgin plastic packaging is one of the key strategies to a new £325m credit facility for PZ Cussons.
The multinational said that the credit facility “incorporates both a term loan and revolving credit facility (RCF) structure, with maturity dates of up to November 2028”.
As part of the facility, a pricing structure has been linked to PZ Cussons’ sustainability strategy, which includes reduction in virgin plastic packaging, achieving B Corp certification and carbon reduction.
Sarah Pollard, Chief Financial Officer of PZ Cussons, said: “We are delighted to announce this refinancing, demonstrating our commitment to embed our sustainability framework into all parts of our business, while achieving attractive commercial terms. We are grateful for the support of our lending syndicate in this highly innovative facility.”
PZ Cussons said it will soon outline new ESG targets for 2023.
