CECONOMY Secures €900M Green Credit Line to Bolster Sustainable Financial Strategy

CECONOMY Secures €900M Green Credit Line to Bolster Sustainable Financial Strategy

(IN BRIEF) CECONOMY AG, the parent of MediaMarktSaturn, has secured a new €900 million ESG-linked revolving credit facility, replacing earlier unused credit lines that acted solely as a liquidity reserve. This three-year facility, extendable by two additional years, ties its interest rate to ESG goals, including reducing greenhouse gas intensity from product use, boosting refurbished product sales, and increasing female leadership representation. CFO Dr. Kai-Ulrich Deissner emphasized that the refinancing enhances financial flexibility and supports sustainable growth, maintaining the line as an unused backup. Following a €500 million sustainability bond in July 2024, this move solidifies CECONOMY’s stable, forward-thinking financial strategy.

(PRESS RELEASE) Düsseldorf, 1-Apr-2025 — /EuropaWire/ — CECONOMY AG, the entity overseeing MediaMarktSaturn, has finalized a fresh ESG-linked revolving credit facility totaling €900 million. This newly established syndicated loan takes the place of prior credit lines ahead of schedule—lines that functioned exclusively as a financial safety net and remained untapped throughout their duration. The updated credit facility will maintain its role as a standby resource, boasting a three-year term with the possibility of two additional one-year extensions.

The interest rate tied to this credit line hinges once more on meeting specific ESG (Environmental, Social, Governance) benchmarks. The margin will fluctuate based on achievements such as lowering greenhouse gas intensity (specifically scope 3.11, which pertains to the usage phase of Private Label and third-party brand products sold), increasing sales of refurbished items, and elevating the percentage of women in leadership roles.

Dr. Kai-Ulrich Deissner, CECONOMY’s CFO, remarked, “This proactive refinancing not only bolsters our financial agility but also aligns seamlessly with our goal of pairing sustainable expansion with robust financial foundations. Consistent with past practice, this credit line serves purely as a liquidity buffer, with no plans to utilize it over its term.”

Coming on the heels of a €500 million sustainability-linked corporate bond issued in July 2024, this early refinancing of the syndicated loan reinforces CECONOMY’s cautious approach to financial management and ensures a dependable, long-term funding framework for the organization.

About CECONOMY

CECONOMY AG simplifies life in the digital world. The company is a leader for concepts and brands such as MediaMarkt, MediaWorld and Saturn in the consumer electronics sector in Europe. The companies in the CECONOMY portfolio have billions of consumer contacts per year and offer products, services and solutions that make life in the digital world as easy and convenient as possible. In this way, they create added value for customers and investors alike.

Disclaimer

To the extent that statements in this document do not relate to historical or current facts, they constitute forward-looking statements. All forward-looking statements herein are based on certain estimates, expectations and assumptions at the time of publication of this document and there can be no assurance that these estimates, expectations and assumptions are or will prove to be accurate. Furthermore, the forward-looking statements are subject to risks and uncertainties including (without limitation) future market and economic conditions, the behaviour of other market participants, investments in innovative sales formats, expansion in online and omnichannel sales activities, integration of acquired businesses and achievement of anticipated cost savings and productivity gains, and the actions of public authorities and other third parties, many of which are beyond our control, that could cause actual results, performance or financial position to differ materially from any future results, performance or financial position expressed or implied in this document. Accordingly, no representation or warranty (express or implied) is given that such forward-looking statements, including the underlying estimates, expectations and assumptions, are correct or complete. Readers are cautioned not to place reliance on these forward-looking statements.

Media Contact:

Hannah Roericht
Spokesperson Finances and Sustainability
+49 (0) 151 1511 1612
roericht@mediamarktsaturn.com

Tel: +49 (0) 211 5408 7222
email: press@ceconomy.de
https://www.ceconomy.de/en/press

SOURCE: CECONOMY

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