Mirakl, a global SaaS solutions provider, has announced the addition of sustainability-linked key performance indicators (KPIs) to its €100 million ($118 million) Revolving Credit Facility (RCF) signed in August 2023. This move positions Mirakl as one of the first scale-ups to incorporate sustainability-linked debt financing.
The facility is tied to three KPIs, including environmental metrics, reflecting Mirakl’s pledge to reduce its scope 1 and 2 emissions by 30% by 2027. These KPIs align with the Sustainability-Linked Loan Principles set by the Loan Market Association. Based on the achievement of these KPIs, the facility margin could fluctuate by +/- 5 basis points.
The amendment to the RCF does not alter its original purpose, which is to fuel Mirakl’s growth through investments in technology and strategic acquisitions.
Marie Best, Group CFO of Mirakl said, “By integrating sustainability-linked metrics into our €100m Revolving Credit Facility, we are underscoring Mirakl’s commitment to sustainable growth. Adjusting the facility margin based on our achievement of key performance indicators ensures that our financial strategies are closely tied to our sustainability ambitions”.
Hugo Weber, VP Corporate Affairs & Impact said, “This ESG amendment is a testament to Mirakl’s commitment to a comprehensive impact strategy. We are already making good progress, for example, sourcing energy from renewables, and by tying our key performance indicators to significant ESG goals, we are driving meaningful impact to our environmental footprint. This approach ensures that our business growth is both responsible and aligned with our long-term vision for a sustainable future, including our goal to reduce scope 1 and 2 emissions by 30% by 2027.”
The RCF was arranged with five lenders: BNP Paribas, HSBC Continental Europe, J.P. Morgan, Natixis, and Société Générale, who acted as mandated arrangers and bookrunners. HSBC Continental Europe served as the ESG Coordinator for the lender group.
