Le Lézard
Classified in: Mining industry
Subject: ESG

Samuel Announces Closing of its Sustainability-Linked Revolving Credit Facility

OAKVILLE, ON, Nov. 23, 2021 /CNW/ - Samuel, Son & Co., Limited, a leading metals distributor and industrial products manufacturer, announced today that it has entered into its first sustainability-linked revolving credit facility agreement. This amendment to the company's bank credit facility underlines the confidence its lending partners share in Samuel's financial and sustainable performance.

The arrangement links Samuel's progress in achieving its environmental sustainability objectives with the facility's interest costs, as tracked using sustainability KPIs, including cumulative reduction in energy consumption and GHG emission intensity. Progress will be measured and audited annually by an independent third party as part of the company's ongoing environmental, social and governance (ESG) commitments.

Colin Osborne, Samuel's President and CEO, stated: "Sustainability is a critical part of our strategy, and this unique lending agreement demonstrates our forward-looking commitment to ESG. We are embedding ESG commitments across all parts of Samuel and are pleased to be linking our progress with our financial activities. We are grateful to our banking partners, led by BMO Capital Markets as the Sustainability Structuring Agent, who have been so supportive in establishing this new sustainability-linked revolving credit facility, which is among the first of its kind for our industry."

Samuel has made a long-term pledge to make meaningful improvements in all aspects of its ESG practices and plans to publicly disclose milestones and progress updates going forward.

About Samuel
Founded in 1855, Samuel, Son & Co., Limited, is a family-owned integrated network of metal manufacturing, processing and distribution divisions. Samuel employees provide metals, industrial products and related value-added services from locations across North America. The company leverages its industry expertise, breadth of experience and the passion of its people to help drive success for North American business ? one customer at a time. For more information, visit samuel.com.

SOURCE Samuel Son & Co., Limited

These press releases may also interest you

at 15:45
Pure Gold Mining Inc. ("PureGold" or the "Company") is pleased to announce it will enter into securities for debt settlement agreements with certain service contractors of the Company (the "Creditors") pursuant to which it will issue 20,922,914...

at 15:30
Fighting inflation, IAM Industries, a long-time North American manufacturer of construction products, has released a line of products under its own Made for Makers label. IAM is...

at 14:50
Belo Sun Mining Corp. ("Belo Sun" or the "Company") has received an interim suspension order issued by a single judge from the Agrarian Court of Altamira (the "Court"), a circuit judge, related to the Construction License ("LI") and Environmental...

at 14:44
The Global Plastic Welding Equipment Procurement market is expected to garner USD 135.27 Million by 2026, rising at a CAGR of 4.49% from 2022 to 2026. The report offers all-inclusive insights into the present condition and future scope of the...

at 14:24
The Global Forging Procurement market is expected to garner USD 21.93 Billion by 2026, rising at a CAGR of 4.89% from 2022 to 2026. The report offers all-inclusive insights into the present condition and future scope of the industry by deeply...

at 14:22
Blue Sky Uranium Corp. , ("Blue Sky" or the "Company") is pleased to announce a non-brokered private placement financing of up to 7,000,000 units at a price of $0.15 per unit for gross proceeds of $1,050,000....

News published on 23 november 2021 at 14:55 and distributed by: