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Greencore Agrees New Sustainability-Linked Revolving Credit Facility

By Donna Ahern
Greencore Agrees New Sustainability-Linked Revolving Credit Facility

Greencore Group plc has announced that it has agreed a new five-year €402 million (£350 million) sustainability-linked revolving credit facility (RCF).

According to the manufacturer of convenience foods, the new RCF replaces Greencore’s existing €391 million (£340 million) facility and a €52 million (£45 million) term loan and extends the group’s average maturity profile to close to four and a half years.

The facility has the option of two additional one-year extensions and includes a €115 million (£100 million) accordion feature which provides further potential financing facilities.

Sustainability Strategy

The new RCF incorporates performance targets that are aligned with Greencore’s long-term sustainability strategy, the company noted.


Dalton Philips, CEO, commented, “Greencore continues to deliver on its ambition to build a stronger, more efficient business serving our customers and consumers across the UK.

"This new facility provides us with significant new financial flexibility to deliver on our growth objectives while aligning our financing arrangements with our sustainability targets.”

Revolving Credit Facility

The RCF is provided by Allied Irish Banks plc, Barclays Bank Plc, Coöperatieve Rabobank U.A. (which trades in Ireland as Rabobank Dublin), Danske Bank A/S, Irish Branch, HSBC Continental Europe, The Governor and Company of the Bank of Ireland, it added.

The group noted that Allied Irish Banks plc acted as its sustainability co-ordinator and Bank of Ireland acted as its agent.


Greencore highlighted that was advised by IBI Corporate Finance on the transaction.

The company will announce its full year results on 28 November 2023.

Read More: Greencore Completes €11.7m Share Buyback Programme

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