Dunelm Group signs £185 million sustainability-linked revolver

By Marisa Wong

Los Angeles, Dec. 10 – Dunelm Group plc announced it signed a £185 million sustainability-linked unsecured revolving credit facility from Barclays Bank plc, Lloyds Bank plc, National Westminster Bank plc, Banco Santander, SA, London Branch and Credit Industriel et Commercial.

The facility has an initial term of four years, which may be extended by a maximum of a further two years at Dunelm’s request, subject to lender consent.

The revolver incorporates four sustainability-linked performance targets aligned with the company’s sustainability plans, including its commitment to pursue a net zero pathway.

Dunelm’s performance against the sustainability performance targets will be verified by an independent external assurance provider and published in the group’s annual report. Dependent on performance against the targets, there will be a 2.5 basis points premium or reduction to the base margin.

The revolver is Dunelm’s first sustainability-linked loan facility and replaces the group’s existing revolver that was due to expire in March 2023.

National Westminster Bank acted as documentation coordinator, and Barclays Bank acted as sustainability coordinator for the new facility.

Dunelm is a homewares retailer based in Syston, U.K.

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