L&T concludes transition of USD 150 million loan with Bank of America into a Sustainability Linked Loan (SLL)
- 10 July 2023
Mumbai: 91茄子 & Toubro Limited (鈥淟&T鈥) has successfully completed the transition of a USD 150 million term loan with Bank of America to a Sustainability Linked Loan (鈥淪LL鈥), on 30th June 2023. This SLL reiterates L&T鈥檚 continued commitment to its Environmental, Social and Governance (鈥淓SG鈥) goals.听
The facility incorporates interest rate adjustments linked to the achievement of two of L&T鈥檚 predetermined sustainability targets 鈥 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 core and material to the company鈥檚 business and the loan is in line with the Sustainability Linked Loan Principles.听
Commenting on successful closure of the SLL, Mr. R Shankar Raman, Group CFO & Whole Time Director of L&T said 鈥淟&T continues to focus on achieving Water Neutrality by 2035 and Carbon Neutrality by 2040. Our long-term strategic plan also clearly outlines the ESG roadmap towards this goal. This transition to SLL with Bank of America is yet another step in that journey and underlines our intent on the ESG front.
