Keolis sets up €600 million loan for sustainable development indicators

Keolis Group has announced that it has signed a contract with a group of 14 partner banks for a €600 million syndicated loan. This large financing solution will last for a period of five years with the aim to refinance existing credit lines.

In line with Keolis’ corporate social responsibility (CSR) strategy, this operation includes a margin adjustment mechanism linked to achieving annual targets related to the environment, diversity and health & safety. This refinancing solution reinforces the liquidity profile of Keolis Group and extends the average maturity of its debt under competitive financial conditions.

Furthermore, Keolis is linking this financing to the sustainable development criteria at the core of its CSR strategy. The new credit line includes a margin indexation mechanism based on achieving annual targets in:

• Gender equality, with a commitment to increase the proportion of women in Keolis’ overall workforce
• The environment, with two target indicators, one indexed to the proportion of employees present in subsidiaries covered by ISO 140011 Environmental Management System (EMS) certification, and the other, from 2023, based on the group’s commitment to reducing greenhouse gas (GHG) emissions
• Health and safety, through a target to increase the proportion of employees covered by a safety management standard accreditation with a particular focus on the development of internal safety culture training and measures to prevent accidents at work.

By linking this syndicated loan to specific, ambitious CSR objectives, this operation allows Keolis to deliver on its commitments in terms of sustainable development, in line with its corporate purpose to make “smart and sustainable mobility solutions accessible to each and every one”.

Christelle Villadary, Chief Financial and Legal Officer of Keolis Group, said: “By indexing the cost of this syndicated loan to Keolis’ sustainable development objectives, this operation places our CSR ambitions at the centre of our financing strategy. In addition, this credit line allows Keolis to strengthen its financing structure by extending the maturity of its debt under competitive conditions. The success of this operation, illustrated by a high level of oversubscription, testifies to our banking partners’ confidence in the Keolis Group’s credit profile and in the quality of its development model.”