BCP finances BA Glass in €80 million through sustainable commercial paper

  • ECO News
  • 6 December 2021

Millennium BCP will subscribe up to €80 million in commercial paper from BA Glass. The interest rate on the issues will be dependent on compliance with sustainability criteria.

BA Glass contracted a commercial paper programme of up to €80 million with Millennium BCP. The bank will be the subscriber of the issues, whose interest rate will be defined according to compliance with sustainability indicators related to water consumption and CO2 emissions.

“Throughout the term of the Programme, the margin associated with the emissions to be carried out by BA Glass may be adjusted depending on compliance with the performance goals defined and disclosed by the BA Glass Group for those indicators. The contracted terms are aligned with the SLLP (Sustainability Linked Loan Principles) as attested by Vigeo-Eiris, an entity that also certifies the sustainability indicators used and the performance achieved by BA Glass,” the bank informs in a statement.

The programme, which provides for the possibility of several emissions within five years, is an “example of the joint effort of Millennium BCP and BA Glass, two entities strongly committed to sustainable finance and the climate transition process,” the statement also points out.