Slaughter and May advised ITV on a new 5-year sustainability-linked £500 million revolving credit facility

Slaughter and May advised ITV plc (“ITV”) on a new 5-year sustainability-linked £500 million revolving credit facility which has been provided by six of its relationship banks. This new facility is linked to the delivery of ITV's science-based carbon emissions targets. Under the terms, ITV 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. The metrics include scope 1, 2 and 3 emissions and will therefore impact right across the ITV supply chain.