Home Media News & press releases Edenred ties social and environmental criteria ...

Press release

Finance 13 February 2020

Edenred ties social and environmental criteria to one of its financing instruments for the first time

Edenred has announced that it has renegotiated its syndicated credit facility, increasing it from €700 million to €750 million, extending its maturity from July 2023 to February 2025 – with extension options to February 2027 – and improving the financial conditions. Edenred notably decided to introduce environmental and social performance criteria into the calculation of the financing costs.

For the first time in its history, Edenred has decided to index the financial conditions attached to one of its financing instruments to environmental and social performance indicators, taken from the quantitative sustainable development targets set by the Group for 2022 and 2030.

The two non-financial criteria to be introduced into the calculation of the syndicated credit facility’s financing costs relate to:

  • promoting healthy and sustainable eating habits – Edenred aims to reach by 2030 an 85% nutrition awareness rate among merchants and employees using its solutions (versus 30% in 2018);
  • combating global warming – Edenred is targeting a 52% cut in greenhouse gas emissions intensity by 2030 compared with 2013 (26% reduction in 2018).

The Group’s sustainable development policy has three focus areas:

Patrick Bataillard, Edenred’s Executive Vice President, Finance, said: “The operation’s success is indicative of the quality of Edenred’s credit. As well as strengthening the Group’s liquidity under improved conditions, the new agreement is perfectly in line with our strategy of generating sustainable and profitable growth.

The transaction was arranged by Crédit Agricole CIB acting as Sole Coordinator and Sustainability Coordinator.
 

About

Edenred is a leading digital platform for services and payments and the everyday companion for people at work, connecting more than 60 million users and more than 2 million partner merchants in 45 countries via close to 1 million corporate clients.

Edenred offers specific-purpose payment solutions for food (such as meal benefits), engagement (such as gift cards and engagement platforms), mobility (such as multi-energy solutions, including EV charging, maintenance, toll and parking) and corporate payments (such as virtual cards). 

True to the Group’s purpose, “Enrich connections. For good.”, these solutions enhance users’ well-being and purchasing power. They improve companies’ attractiveness and efficiency,and vitalize the employment market and the local economy. They also foster access to healthier food, more environmentally friendly products and sustainable mobility.

Edenred’s 12,000 employees are committed to making the world of work a connected ecosystem that is safer, more efficient and more responsible every day.

In 2023, thanks to its global technology assets, the Group managed €41 billion in business volume, primarily carried out via mobile applications, online platforms and cards.

Edenred is listed on the Euronext Paris stock exchange and included in the following indices: CAC 40, CAC 40 ESG, CAC Large 60, Euronext 100, Euronext Tech Leaders, FTSE4Good and MSCI Europe.

Read also

Press contacts

Matthieu SANTALUCIA

Media relations

By phone: +33 (0)6 83 54 12 10