UPL announced that it has raised a second tranche of USD700 Million sustainability linked loan (SSL) on 31 December 2021 with a reduction of interest cost by 35bps and an opportunity for a further reduction of 5bps on achievement of sustainability indicators agreed with the banks. The first tranche of USD750 million was raised in March and April 2021. Of the USD1.45 billion, the debt maturity for USD1.25 billion gets extended by two years to FY 2026 (against FY2024 earlier). The SLL also provides a complete pre-payment flexibility.
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