In a statement, NOS states that it has contracted 300 million euros in bond loans and paper programs indexed to sustainability objectives. These will mature in 2027.
To celebrate these operations, the operator chose three financial institutions: Banco BPI, Caixa Geral de Depósitos and Millennium bcp. These lines promise to contribute positively to the average cost of NOS debt.
NOS now has more than 40% of its contracted debt
Compared to national and international counterparts, the operator says that it is “at very attractive levels”. After contracting these operations, NOS now has more than 40% of its debt contracted in association with sustainability indicators and targets.
“These bank loans were carried out under the recently developed Sustainability-Linked Financing Framework, and are indexed to the objective of reducing greenhouse gas emissions from the own operation (scope 1 and 2 emissions) by at least 80 % by 2025, compared to 2019”, explains the operator
This objective was validated by the Science Based Targets Initiative (SBTi), and is in line with climate science and the best practices in the sector, aiming to keep global warming limited to 1.5 °C.
As for NOS, this consolidates the link between its cost of funding and performance in terms of sustainability. It reinforces and demonstrates its strategic relevance and commitment to achieving best-in-class targets in ESG (Environmental, Social and Corporate Governance) indicators.
As at 31 December 2021, NOS had a Net Financial Debt / EBITDA after leasing ratio of 1.99x. This is considered a value well below that of other companies in the Telecommunications sector.
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