HUGO BOSS has secured a syndicated loan with a sustainability component for the first time. This means that the interest rate for the EUR 600 million loan is also linked to the fulfillment of clearly defined sustainability criteria. The syndicated loan is classified as sustainable finance and therefore meets important environmental, social and governance (ESG) criteria. The interest rate will be adjusted annually based on the achievement of target values defined by HUGO BOSS across four ESG areas: the reduction of CO2 emissions, the share of women in management positions, fair working conditions at suppliers, as well as the use of more sustainable cotton.
The syndicated loan aims at providing the company with additional financial flexibility to ensure the successful execution of its ‘CLAIM 5’ growth strategy. There, the topic of sustainability to which HUGO BOSS attaches great importance, is also firmly anchored. During the next years, the company will further intensify its sustainability efforts. With its efforts already made and sustainability targets set for the future, only recently, HUGO BOSS has been included in the renowned Dow Jones Sustainability Index (DJSI) World for the fifth consecutive time. Further information on the targets set and the associated measures can be found in the Sustainability Report or here on the Group website.