California-based Guess has entered into a EUR250m revolving credit facility through its wholly-owned Swiss subsidiary, Guess Europe Sagl. The facility has an initial term of five years, with an option to extend the maturity date by up to two years and an option to expand the facility by up to EUR100m, subject to certain conditions. The new facility replaced certain short-term borrowing arrangements with various banks totalling EUR120m.
The Guess Sustainability Plan focuses on three key pillars: Operating with Integrity, Empowering our People, and Protecting the Environment. In line with the third pillar, the interest rate for the new facility will be subject to an annual adjustment based on the achievement of specific sustainability goals aimed at reducing greenhouse gas emissions, increasing the use of sustainably sourced materials, and increasing the penetration of the company’s Guess Eco products.
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