Press release

CaixaBank participates in Kingsfisher’s new £550m revolving credit facility linked to sustainability targets

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B&Q (Kingfisher Group) UK's New Malden eco-store

• The financial terms of the credit facility are linked to the fulfillment of certain environmental and social sustainability goals by the British company.


CaixaBank, Spain’s leading bank, has participated as Mandated Lead Arranger in the execution of a new sustainable 3-year credit facility for £550 million of Kingfisher, the international home improvement retailer.

The financial terms of the Kingfisher credit facility are linked to the fulfillment by the company of ambitious sustainability and community-based targets by 2025-2026.

Among these, Kingfisher commited to fight against climate change by reducing carbon emissions from its business, products and supply chain. The target is to deliver 1.5ºC science-based carbon reduction targets, with the facility covering Kingfisher’s actions to reduce its Scope 1 and 2 impacts.

Moreover, Kingfisher is committed to becoming forest positive by creating more forests than it uses. The credit facility target is to reach 100% sustainable wood and paper for its products.

In the community field, Kingfisher is committed to help more than 2 million people whose housing needs are greatest in their community. The target is defined as the number of people who directly benefited from Kingfisher’s community contributions.

With this transaction, carried out by CaixaBank UK Branch (hereinafter, CaixaBank UK), in coordination with the Corporate & Acquisition Finance and the Sustainable Finance teams, the company strengthens its activity in the sustainable financing business in the United Kingdom. 

CaixaBank in UK

The United Kingdom is a key market for CaixaBank due to its size, its economic outlook and its strategic links to other major markets. CaixaBank’s physical presence in the UK goes back to 2003, when the bank opened a representative office in London. The office evolved in to a branch in 2016 becoming CaixaBank UK.

CaixaBank UK comprises a team of highly qualified professionals who provide corporate banking services to British corporates as well as Spanish and multinational clients with a relevant investment and activity in the UK. CaixaBank UK offers both transactional and lending products, including supply chain finance facilities, long term corporate financings and project finance structures, as well as cross border and foreign exchange solutions.

CaixaBank has participated in 16 renewable energy projects in the UK for a total capacity of over ten thousand MW. 

CaixaBank: committed to sustainability

CaixaBank is one of the financial institutions most committed to sustainability, based on its Socially Responsible Banking Plan which includes five specific principles of action that make a direct contribution to the United Nations’ Sustainable Development Goals (SDGs). Through its activities, the bank supports environmentally-friendly initiatives and projects that contribute to preventing and mitigating climate change, and promoting the transition to a low-carbon economy and social development.

The bank has mobilised more than €12bn in sustainable financing in 2020, with more than €2bn formalised in green financing and more than €3bn formalised in financing linked to ESG variables, where the objectives on environmental variables, such as the reduction of emissions or energy efficiency, stand out.

In 2020, CaixaBank was ranked fifth in Europe and ninth worldwide for providing green and sustainable loans in the top tier league tables by volume, according to Refinitiv. 

About Kingfisher plc

Kingfisher plc is an international home improvement company with approximately 1,400 stores, supported by a team of over 83,000 colleagues. Kingfisher operate in eight countries across Europe under retail banners including B&Q, Castorama, Brico Dépôt, Screwfix, TradePoint and Koçtaş. Kingfisher offer home improvement products and services to consumers and trade professionals who shop in their stores and via their e-commerce channels. Kingfisher’s purpose is to help make better homes accessible for everyone.