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METZINGEN - Fashion brand Hugo Boss has secured its first green finance package - a €600 million (US$680m) loan linked to the achievement of defined sustainability targets.

The interest rate will be adjusted each year depending on performance on reducing CO2 emissions, fair working conditions at suppliers, the use of more sustainable cotton and appointing more women managers.

The revolving syndicated loan, which was oversubscribed, represents the first time that Hugo Boss has secured finance linked to sustainability.

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