JLEN Environmental Assets Group Limited announced that it has refinanced a three-year facilities agreement providing for a committed multicurrency revolving credit facility (RCF) of £200 million with an uncommitted accordion facility of up to £30 million and an uncommitted option to extend for a further year. Taken together this provides £30 million increased funding capability over the previous facility. The RCF provides a valuable source of flexible funding, with both Sterling and Euro drawdowns available at a margin of 210 bps over SONIA (Sterling Overnight Index Average) for Sterling drawings and Euribor (Euro Interbank Offered Rate) for Euro drawings.

The RCF qualifies as a Sustainability Linked Loan (SLL) under the latest Loan Market Association SLL principles. The aim of an SLL is to support sustainable economic activity and growth, with interest rates linked to meeting certain agreed sustainability goals. Therefore, interest charged on the facility is linked to the Company's Environmental, Social and Governance (ESG) performance, with JLEN incurring a 5 bps premium or discount to its margin based on performance against defined ESG-linked targets.

Performance against targets is measured annually, with the cost of the RCF being amended in the following financial year. The lenders under the RCF remain unchanged (HSBC, ING, National Australia Bank, Royal Bank of Scotland International and Clydesdale Bank).