Towards close of trade on Thursday, L&T Finance Holdings Ltd was trading at Rs80.70 per share up by Rs0.1 or 0.12% from its previous closing of Rs80.60 per share on the BSE.
Under the facility, LTF has committed to achieving progress on three important sustainability linked Key Performance Indicators (KPIs) relating to
i. Responsible Lending to women entrepreneurs especially in underserved communities,
ii. Water Positivity, and
iii. (iii) Carbon Sequestration.
The Sustainability linked KPIs will be measured annually by an independent third-party assurer and the progress reported in the Company’s annual report on sustainability performance. The Company’s progress across KPIs will lead to either reduction or increase in interest rates on the credit facility.
“LTF is among the first NBFCs in the country to raise low-cost credit via a Sustainability Linked Rupee Loan, a milestone achievement as the Company continues on its retailisation journey in service of its customers” said Mr. Dinanath Dubhashi, Managing Director & CEO of L&T Finance Holdings. He further added, “Going forward, sustainability focused financing will increasingly play a critical role across borrowers and lenders in helping drive sustainable growth in the country.”
Toby Lawson, Chief Executive and Chief Country Officer of Société Générale India said, “We were delighted to support LTF in their inaugural Rupee-denominated Sustainability-Linked Loan with notably a specific commitment to increase micro loans to women entrepreneurs in the rural communities. This is aligned with our ambition to support our clients in generating positive impact by acting for communities across geographies. Our teams are committed to support our clients in India through their sustainability journey and to advance on the United Nations Sustainable Development Goals.”
The proceeds from the loan will be used for onward lending across Wholesale, Urban and Rural Customers.
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