ITV agrees £500m revolving credit facility linked to emissions targets

Broadcaster ITV said on Monday that it has agreed a new syndicated £500m revolving credit facility linked to its carbon emissions targets.

The RCF has been agreed with Barclays Bank, BNP Paribas, Credit Suisse, Mizuho Bank, National Westminster Bank and Wells Fargo. The terms run until January 2027, replacing the existing facility, which was due to mature in 2023.

ITV said the RCF is linked to the delivery of its science-based carbon emissions targets. Under the terms, the broadcaster will benefit from a lower interest rate if it delivers emissions reductions in line with its net zero roadmap, which will be assessed on an annual basis and verified by independent external review.

Chief executive and chief financial officer Chris Kennedy said: "The inclusion of ESG targets within this important financing demonstrates ITV's further commitment to achieve net zero targets by 2030."