In line with the Company’s focus on sustainability, the interest rate on the credit facility continues to be subject to an annual adjustment based on the achievement of specific sustainability goals aimed at reducing greenhouse gas emissions, increasing the use of sustainably sourced materials and increasing the penetration of the Company’s Guess ECO products.
Guess has increased its European revolving credit facility from 250 million euros (about 272 million dollars) to 350 million euros (about 381 million dollars) through its Swiss subsidiary Guess Europe Sagl. The facility, with a term of about three years, has an interest rate linked to sustainability objectives. CEO Carlos Alberini highlighted the lenders' confidence and the importance of Europe in its strategy.
Carlos Alberini, CEO of Guess?Inc. commented: “The extension of our European credit facility reflects our lenders’ confidence in our strategy and the importance of the European region to our overall business. The expanded credit facility will provide incremental access to long-term capital while continuing to align financial incentives with our sustainability goals.”
Note: The content of this press release has not been edited by Fibre2Fashion staff.
Fibre2Fashion (RM) Press Desk
