Larsen Toubro raises USD 107 mn sustainability-linked loan

7 Dec 2022 , 01:34 AM

Larsen amp; Toubronbsp;has successfully closed a three-year USD 107 million sustainability-linked loan from Sumitomo Mitsui Banking Corporation SMBC on 30 November 2022 with SMBC appointed as the sole Sustainability Coordinator and Lender This sustainability linked loan underscores Lamp;Ts continued commitment to its environmental social and governance ESG goals

The facility incorporates interest rate reductions linked to the achievement of two of Lamp;Ts predetermined sustainability targets the reduction of greenhouse gas emission intensity and water consumption intensity against the target levels These targets have been selected on the basis that they are relevant and material to the companys overarching sustainability position and strategy The loan fulfilled the core requirements under the Sustainability Linked Loan Principles and DNV Business Assurance Singaporehas provided Second Party Opinion on Lamp;Ts SLL