Prada just took out a $55 million loan that'll see interest rates lowered in exchange for going green — and it's a first for the luxury goods industry

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 21 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 51%

Loans Loans Headlines News

Loans Loans Latest News,Loans Loans Headlines

The fashion world is recognized as the second most polluting industry after oil and has been working to become more eco-friendly in recent years.

The Prada fashion group has taken steps to become a more environmentally-friendly company. The fashion group has signed for a loan, which"will see interest rates lowered based on 'achievement of ambitious targets related to sustainability.'" It's being touted as the first business loan of its kind in the luxury goods sector. Visit Business Insider's homepage for more stories.

The Prada fashion group has taken steps to become a more environmentally-friendly company. The fashion group has signed for a loan, which"will see interest rates lowered based on 'achievement of ambitious targets related to sustainability.'" It's being touted as the first business loan of its kind in the luxury goods sector. Visit Business Insider's homepage for more stories.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

More reason to love Prada

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 729. in LOANS

Loans Loans Latest News, Loans Loans Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Prada Secures First Sustainability-related Loan in Luxury Goods IndustryCrédit Agricole Group will grant Prada SpA 50 million euros over five years through a Sustainability Term Loan, introducing a rewarding annual pricing adjustment based on the achievement of sustain…
Source: wwd - 🏆 24. / 68 Read more »

Prada Secures First Sustainability-related Loan in Luxury Goods IndustryCrédit Agricole Group will grant Prada SpA 50 million euros over five years through a Sustainability Term Loan, introducing a rewarding annual pricing adjustment based on the achievement of sustain…
Source: wwd - 🏆 24. / 68 Read more »

Wow, Student Loans Take 18.5 Years To Pay OffWhen you refinance student loans, you can refinance your existing federal student loans, private student loans or both into a new student loan with a lower interest rate. HRC right again it’s not the principal but the interest that’s killing everyone. Not just student loans but a majority of loans in US are predatory and no one addresses the loan shark fees and ridiculous interest rates. Many in public service professions have no incentive to hurry. Loans will eventually be forgiven. Others may be hoping for a bailout from dem candidates. Makes more sense to pay down credit cards or mortgage. I am 62 plus and I still owe $103,000 no degree only Tech Certificates so these may not get paid in full before I die?
Source: Forbes - 🏆 394. / 53 Read more »

Must Read: Christopher John Rogers Wins The CFDA/Vogue Fashion Fund, Is Streetwear Becoming Monotonous?Plus, Prada signs first fashion sustainability-linked loan. Yes!
Source: Fashionista_com - 🏆 474. / 51 Read more »

China central bank cuts medium-term loan rate for first time since 2016 as growth coolsChina's central bank cut the interest rate on its medium-term lending facil... As a Marxist economy, China can only boost its economy artificially, in the absence of quantifiable growth. Once the State sponsored subsidies tighten, to the point of affecting bond rates, it's unlikely trade growth can resurrect the loan accreditation rate. Global recession coming. You all are not buying or helping in the production of enough CO2 to keep the economy afloat
Source: Reuters - 🏆 2. / 97 Read more »