Purpose and Values
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."