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Sonae already has over 15% of gross debt associated to sustainability goals

Sonae already has over 15% of gross debt associated to sustainability goals

Total amount of long-term facilities with sustainable framework rises to 280 million euros.

Sonae has completed a new bond issue indexed to the Group’s performance in environmental, social and governance indicators (ESG), in the amount of 20 million euros. The final spread of this operation depends on the fulfilment of targets related with female leadership and the reduction of CO2 emissions.
This operation was arranged by Banco BBVA, through a private placement, without recourse to guarantees and with a final maturity of five years.

This new emission takes place after Sonae already completed a set of refinancing operations of 150 million euros also linked to ESG indicators, on December 10. Adding these operations, the total amount of long-term facilities concluded by Sonae SGPS and Sonae MC, with a sustainable, "Green” and "ESG” framework now ascends to 280 million euros, which represents over 15% of the current gross debt of these companies, thus demonstrating the Group’s clear commitment with its sustainability policy, while reinforcing its liquidity position and increasing the average maturity of its debt.

João Dolores, CFO of Sonae, says, "Sonae’s commitment to its people and to the planet is non-negotiable. It is part of our DNA. Today we have specific and demanding targets across several social and environmental dimensions – and we are not afraid of putting ourselves to the test. As of now, a significant part of our financing is already associated to ESG goals and it is our ambition to have even more. Not only because it challenges us, but also because we believe the only viable way to think about creating value is to do so in its economic, social and environmental dimensions, in an integrated and undisputed manner.”

Most recently, Sonae announced its updated Gender Equality Plan, with even more ambitious targets for female leadership, as well as its commitment to carbon neutrality by 2040, ten years ahead of the target set by the European Union.
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