Renewi wins sustainable finance and corporate content awards
13 February 2019
Treasurer, Adam Richford with Caroline Stockman and Ian Chisholm from the Association of Corporate Treasurers.
International waste-to-product company, Renewi plc (LSE: RWI) has won sustainable finance and corporate communication awards.
At the Association of Corporate Treasurers (ACT) “Deals of the Year” awards, Renewi won the award for “Sustainable Finance Deal of the Year”. The awards celebrate the achievements of corporate treasury, recognising innovation and excellence.
Renewi is wholly focused on sustainability, with the vast majority of its assets classified as “green”. The company was one of the first large companies to refinance its entire bank borrowings using a green certification in 2018. The facility was one of the first to introduce sustainability improvement into the terms of the borrowing facility. Accordingly, Renewi benefits from a lower margin payable on its borrowings in the event that it achieves each of five ambitious sustainability objectives.
Renewi also launched Green EUPP and Green operating lease programmes in December 2018. The EUPP is a €25m issuance to add an important new non-bank source of funding to Renewi’s existing retail bonds and bank facilities. The operating lease programme reduces Renewi’s operating costs due to the efficiency of new Euro 6 trucks.
In addition, Renewi was highly commended in the ACT “Small Treasury Team of the Year”. At the Corporate Content Awards, Renewi scooped prizes for its internal communications and innovative use of video communication.
Toby Woolrych, CFO at Renewi said:
“Our transformational merger has created a leader in the circular economy. We were delighted to be one of the first large companies to launch our innovative sustainable finance facilities last year. To be recognised for these efforts by this awards programme is a credit to our Renewi team and the partners involved.”