MONTREAL, Feb. 04, 2020 (GLOBE NEWSWIRE) -- BNP Paribas, a premier global banking partner, today announced that it has closed a sustainability-linked syndicated credit facility with WSP Global Inc. (TSX: WSP) ("WSP"), one of the world's leading professional services firms. BNP Paribas served as Sole Sustainability Coordinator, working with WSP to integrate the sustainability targets into its credit facility.

The announcement marks WSP as the first professional services firm in the Americas to secure sustainability-linked terms for its syndicated credit facility. WSP signed an amendment to its existing credit facility to include financing terms that reduce or increase the borrowing costs on the lending facility as sustainability targets are met or missed.

The amendment introduces an annual pricing adjustment based on the achievement of ambitious targets related to sustainability. With sustainability core to its business strategy, this step reflects WSP's goal to create compelling business value through advancing its vision to have a long-lasting positive impact on society.

"We are proud to be challenging the status quo by formally linking sustainability and financing. By doing so, we are further strengthening our commitment to deliver on the sustainability ambitions outlined in our 2019-2021 Global Strategic Plan. Moreover, we are also reflecting the collective sentiment of our 50,000 employees, for whom sustainability is an increasingly important issue," said Bruno Roy, Chief Financial Officer of WSP.

The amendment applies to a $1,200 USD million syndicated revolving credit facility with terms of up to four years tied to three sustainability performance targets that highlight and measure WSP's continued advancement of its sustainability initiatives:

1. Reduction in market-based greenhouse emissions across our global operations from 2018 to 2021;
2. Increased percentage of “Green” Revenues (revenues from services having a positive impact on environment) by the end of 2021;
3. Increase in the percentage of management positions held by women by the end of 2021.

Canadian Imperial Bank of Commerce, National Bank Financial and BMO Capital Markets are Joint Bookrunners and Co-Lead Arrangers on the credit facility.

“We are excited to partner with WSP Global, one of the world's leading engineering and design services firms, to support their sustainability ambitions. The drive in the corporate sector to integrate sustainability and ESG into their corporate strategies has created a growing demand for sustainable products and trusted advisors. BNP Paribas is proud to be a leader in the sustainability-linked loan market and Sustainable Finance more broadly. We are committed to helping our clients align their financing needs to meet their sustainability objectives,” said Sonja Volpe, Principal Officer and CEO BNP Paribas in Canada.

In January, BNP Paribas announced that it has closed a bi-lateral, incentive-linked corporate revolving credit facility with Brookfield Renewable Partners in Canada, one of the first SLLs offered in Canada and the first for BNP Paribas in Canada.

About BNP Paribas in Canada
For over 55 years, BNP Paribas in Canada has been helping Canadian businesses and institutions grow by offering them a full range of specialized financial services and investment products. With over 950 employees in offices in Montreal and Toronto, BNP Paribas in Canada combines a clear understanding of the Canadian landscape with global expertise.

About BNP Paribas
BNP Paribas is a leading bank in Europe with international reach. It is present in 72 countries, with more than 202,000 employees, of whom more than 154,000 are in Europe. The Group has key positions in its three major business areas: Domestic Markets and International Financial Services, whose retail banking and financial services networks are grouped into Retail Banking & Services, and Corporate & Institutional Banking, which focuses on corporate and institutional clients. The Group supports all of its customers (individuals, associations, entrepreneurs, SMEs, large businesses and institutions) in carrying out their projects by offering them financing, investment, savings and protection services. In Europe, the Group has four domestic markets (Belgium, France, Italy and Luxembourg) and BNP Paribas Personal Finance is the leading specialist in retail financing in Europe. BNP Paribas is also developing its integrated retail banking model in the Mediterranean basin countries, Turkey and Eastern Europe and has a significant network in the West of the United States. In its Corporate & Institutional Banking and International Financial Services businesses, BNP Paribas enjoys leadership in Europe, a strong presence in the Americas, as well as a solid and fast growing business in Asia Pacific.

About WSP
As one of the world's leading professional services firms, WSP provides engineering and design services to clients in the Transportation & Infrastructure, Property & Buildings, Environment, Power & Energy, Resources and Industry sectors, as well as offering strategic advisory services. Our experts include engineers, advisors, technicians, scientists, architects, planners, surveyors and environmental specialists, as well as other design, program and construction management professionals. With approximately 50,000 talented people globally, we are uniquely positioned to deliver successful and sustainable projects, wherever our clients need us. wsp.com

Press Contact
Keely Gispan – 212-340-5867 – keely.gispan@us.bnpparibas.com