Roca Group renews its 350 million euro syndicat-ed loan and links it to sustainable criteria


The funding incorporates commitments related to carbon emission and water consumption reduction.

Roca Group, a world leader in the design, production and marketing of products for the bathroom space, has anticipated the renewal of its 350 million euro syndicated loan and has linked it to environmental criteria, within the framework of the company's ESG (environmental, social and corporate governance) strategy. The offer from the financing entities was well above the amount finally subscribed, which shows the interest and trust in Roca Group's solvency and strategy.

The syndicated loan has a duration of six years and is formed by a first tranche of EUR 250 million in loans and a second tranche of revolving credit amounting to EUR 100 million. The operation has been led by BBVA, Caixabank and Banco Sabadell as bookrunners of the financing and sustainability, with Santander and BNP Paribas also participating.

The line of financing is subject to the achievement of two sustainability indicators, related to the reduction of the company's carbon emissions and annual water consumption, which represents an innovative change in Roca Group's relationship with banking institutions, as for the first time it links its financing to environmental factors. These objectives have been validated by Sustainalytics, the global ESG certifying agency, and are part of the decarbonisation roadmap that the Group is drawing up.

A third sustainability factor has also been introduced, of a social nature, through which the Roca Group undertakes the commitment to make an annual donation to promote the projects of the We Are Water Foundation, the non-profit organisation promoted by the company and whose aim is to contribute to the resolution of problems arising from the lack of water and sanitation in the world. The amount of this donation is linked to the sustainability indicators defined.

The CEO of Roca Group, Albert Magrans, highlighted that the Group's strategy is to ensure that its financing structure is increasingly linked to ESG factors: "Sustainability plays a central role in the Roca Group's corporate strategy, and associating our financing with the acquisition of specific environmental commitments is another example of the company's willingness to continue to make decisive progress in this area".

Roca Group closed the 2020 financial year with a turnover of 1.68 billion euros, 9.5% less than in 2019 due to the context of the pandemic and the slowdown in the global economy. Despite this, Ebitda increased to 306 million, up 21%, while consolidated net profit stood at 60 million, representing a decrease of 12%.