- Telefonaktiebolaget L M Ericsson (NASDAQ:ERIC) inked a $2 billion sustainability-linked revolving credit facility, renewing an undrawn $2 billion credit facility signed in 2013.
- The renewed facility has a link to Ericsson’s sustainability work, and its interest margin will be linked to two of its sustainability KPIs. The first KPI is tied to carbon neutrality in Ericsson’s operations by 2030, and the second connects with suppliers setting 1.5 C° aligned climate targets.
- The facility has a five-year tenor with two one-year extension options and will serve as a facility for general corporate purposes.
- Price Action: ERIC shares traded higher by 0.81% at $11.22 in the premarket session on the last check Thursday.
The Week Ahead In Biotech (Jan 31-Feb 5): Merck, Bristol-Myers Squibb, Lilly & Novartis Headline Large-Cap Biopharma Earnings News
The broader market weakness pervaded into the biotech sector in the week ending Jan. 28, sending stocks lower.
