Co-op Secures £400m Sustainability Linked Revolving Credit Facility

The Co-op has successfully refinanced its £400 million revolving credit facility (RCF) with a sustainability linkage, reaffirming its commitment to creating sustainable value for both its members and the communities it operates within. This innovative RCF incorporates metrics focused on both environmental and diversity goals. The legal advisory work was led by Addleshaw Goddard, a firm with a long-standing relationship with Co-op. Richard Oman, a banking and finance partner at Addleshaw Goddard, emphasized the significance of sustainability in modern corporate financing, highlighting the evolution of financing structures since 2019. Simon Nuttall, Head of Tax, Treasury & Insurance at Co-op, expressed satisfaction at embedding their social value commitments into funding strategies. The Addleshaw Goddard team, comprising Richard Oman, Nick Parkin, Amy Clarke, and others, provided expertise in structuring the terms of the RCF, showcasing their adeptness at aligning financial solutions with corporate values.