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Dunelm Group plc has announced the signing of a £185m sustainability-linked unsecured revolving credit facility (“RCF”).
It revealed the deal is signed from banks, Barclays Bank PLC, Lloyds Bank Plc, National Westminster Bank PLC, Banco Santander, S.A., London Branch and Credit Industriel et Commercial.
The facility has an initial term of four years, which may be extended by a maximum of a further two years at Dunelm’s request, subject to lender consent.
The RCF incorporates four sustainability-linked performance targets: 50% reduction in greenhouse gas emissions by 2030; brand cotton products to meet Dunelm’s “More Responsibly Sourced” standard by 2025; 20% reduction in plastic packaging by 2024; and provision of a customer take-back service for 50% by 2024.
Dunelm’s performance against the sustainability performance targets will be verified by an independent external assurance provider and published in the Group’s annual report.
Laura Carr, Dunelm’s chief financial officer, said: “Our sustainability plans have already taken a big leap forward as we continue to pursue our ambition of being sustainable in everything we do. We are delighted to further demonstrate our commitment with this new sustainability linked revolving credit facility, which is clearly aligned to our Net Zero Pathway.”
The brand also announces that Laura Carr, chief financial officer, has informed the board that she will be leaving her role in June 2022, with search for a successor initiated.
