(PRESS RELEASE) STOCKHOLM, 14-Oct-2022 — /EuropaWire/ — Skandinaviska Enskilda Banken AB (STO: SEB-A) (SEB), a Swedish financial group leader on the Nordic market, has announced its participation as a Co-Sustainability Advisor to Mercedes-Benz Group AG, one of the largest automotive companies, in their move to align their financing instruments with their sustainable business strategy. SEB helped the automaker establish the second largest European sustainability-linked loan (SLL) financing on the market.
As one of the world’s most successful automotive companies, Mercedes-Benz is fully aware of its responsibility towards a sustainable future and is pushing ahead with its ambitious sustainability agenda. With “Ambition 2039” Mercedes-Benz plans to go all electric by the end of the decade, wherever market conditions allow.
The company’s ambition includes the integration of ESG criteria to further align their financing strategy with the overall sustainability strategy.
Mercedes-Benz Group AG converts an existing revolving credit facility (RCF) of 11 billion euros into a sustainability-linked loan (SLL). The Stuttgart-based car manufacturer was advised by SEB, which acted together with Landesbank Baden-Württemberg (LBBW) as co-sustainability advisor.
“We are proud to advise Mercedes-Benz Group again in communicating their ambitious sustainability strategy through this sustainable finance transaction. This facility affirms their position as one of the corporate leaders in sustainable finance. We are pleased to have been able to add value with our many years of experience and expertise in this field as well as in the automotive industry,” said Jürgen Baudisch, head of SEB in Germany, Austria and Switzerland (DACH).
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SOURCE: Skandinaviska Enskilda Banken AB