PRADA S.P.A. SIGNS SUSTAINABILITY LINKED LOAN
Prada S.p.A. signed with Crédit Agricole Group the first Sustainability Linked Loan of the luxury goods industry. This new facility, named Sustainability Term Loan, is a EUR 50m five-years term loan which interest rate can be reduced following the achievement of targets related to: number of stores assigned of a LEED Gold or Platinum Certification; amount of training hours for the employees and the use of Prada Re-Nylon (regenerated nylon) for the production of goods.
Alessandra Cozzani, Chief Financial Officer of Prada S.p.A.: "This transaction demonstrates that sustainability is a key element for the development of the Prada Group, increasingly integrated into our strategy. We are confident that this collaboration with Crédit Agricole, a leader in its sector, will help to extend the benefits of a responsible business to the financial world."