UltraTech Cement Ltd. on Monday stated it had raised $500 million by means of a sustainability-linked mortgage with participation from six banks.
Aligning funding technique with ESG targets
“The transaction marks the second sustainability-linked financing raised by UltraTech, subsequent to its inaugural sustainability-linked bond issuance in 2021. This financing signifies UltraTech’s ongoing dedication to align its funding technique with its sustainability and ESG [Environmental, social and governance] targets,” the corporate stated in a press release.
This financing is aligned with UltraTech’s just lately printed Sustainability-Linked Financing Framework which covers the corporate’s future sustainability-linked bond and mortgage issuances.
Sumitomo Mitsui Banking Company (SMBC) acted as the only sustainability coordinator for this transaction and served as the only advisor on UltraTech’s Sustainability-Linked Financing Framework. Lenders for the transaction embody SMBC, SBI, BNP Paribas, DBS, MUFG and Mizuho.
