Osborne signs the first sustainable syndicated funding agreement in the Spain wine sector
The key characteristic of this funding its that to set the rate of interest, both Osborne's net financial debt/EBITDA and the evolution of two pre-agreed environment sustainability indicators are taken into account, specifically: (i) the consumption of green energy and (ii) Q Sustainability certification for buildings, production plants and offices in the Osborne Group. In this way, improvements in the evolution of sustainability indicators will be accompanied by a reduction in the interest rate. In order to do so, an independent sustainability consultant, in this case, Sustainalytics, will issue a report analysing the established indicators to evaluate if it is on track to meet the objectives set.
The operation has been managed by BBVA, which acts as Coordinator and Sustainability Agent, with the support of the main entities that it operates in relation with, such as Santander, Bankinter, Sabadell, Bankia and Caixa, reinforcing BBVA's leadership in sustainable funding.With the renewal, Osborne is once again supported by Spain's major banks, which with the syndicated signing of the funding agreement confirm their confidence in the good practice and business development capacities of the family business based in El Puerto de Santa María. A positive operation for the food and drink group that offers the financial stability to undertake the directives of its strategic plan at the same time as reinforcing the company's commitment to protecting our environment.
As such, Osborne underlines its commitment to sustainability across all areas of the organisation, and its pledge to be a company that is dedicated to caring for the environment in line with its Corporate Responsibility action plan and in complement to the activities that it already carries out through the Osborne Foundation.
The Spanish company, Osborne, has one clear objective: to select, produce and convey the most authentic and prestigious food and drink products and brands to consumers all over the world. Osborne was born in 1772 and it is now one of the oldest family-owned companies in the world. Since the outset, it has maintained its commitment to the highest quality, innovation and internationalization.
Osborne possesses a solid leadership position in the Spanish market in various premium categories: 100% Iberian acorn-fed ham, Solera Gran Reserva Brandy de Jerez, premium gin and aged sherry wines. But the company, as well as its presence in Spain, exports its main brands - Cinco Jotas ham, Montecillo Rioja, the brandies Carlos I, 1866 and Magno, Nordés gin and Anís del Mono, among others - to more than 50 countries.
Osborne complements the business of production and commercialization of its own brands with the distribution within Spain of major associate brands such as Brockmans Gin, Flor de Caña Rum, 100 Pipers Whisky and Passport Scotch Whisky. In addition, Osborne owns the rights to the Toro de Osborne brand, which is, without doubt, one of the most renowned distinguishing symbols of Spain. The more than 90 enormous billboards are strategically located on the main Spanish motorways and are internationally recognised as one of the greatest pieces of work in the history of advertising.
Osborne manages and channels all of its Corporate Social Responsibility work through the Osborne Foundation, which centres its efforts on promoting employment and entrepreneurship among young people, as well as ensuring the conservation and outreach of Osborne's historic patrimony.
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Iván Llanza Ortiz, Osborne Comunication Director
Telephone: 956 86 90 00