Insulation and building materials manufacturer Kingspan has completed a new €700m Planet Passionate revolving credit facility.
Kingspan said the new five year facility matures in May 2026, with an extension option for a further two years.
It replaces the group's outgoing revolving credit facility of €451m and acquisition facilities of €300m.
The new funding is provided by a syndicate of ten leading international banks and will be used for general corporate purposes.
Geoff Doherty, Kingspan's chief financial officer, said the company was pleased to complete this financing with a top tier of international banks, who can support Kingspan in all of its key markets - regionally and globally.
"When combined with the Green Private Placement bond of €750m completed in December 2020, Kingspan has arranged €1.45 billion of sustainable debt funding over the last six months," he added.
The company's Planet Passionate sustainability strategy aims to halve carbon intensity in Kingspan's primary supply chain.
The strategy also aims to reduce the company's manufacturing carbon emissions to as close to zero as technically possible.
