Larsen & Toubro on Monday announced securing a Sustainability-Linked Trade Facility (SLTF) worth $700 million from Standard Chartered. The SLTF is tied to specified key performance indicators (KPI) such as the intensity of greenhouse gas emissions and fresh-water withdrawal, and targets that are crucial to L&T’s business operations.
L&T expands sustainability-linked financing with Standard Chartered
It is also aligned with the Loan Market Association’s Sustainability-Linked Loan Principles, ensuring adherence to market standards for sustainability-linked financing, L&T said in a statement.
After $60 million ESG bond, L&T clinches $700 million SLTF
Having issued India’s first listed sustainability-linked bond, for $60 million, under SEBI‘s ESG Bond Framework in June this year, L&T has now secured an SLTF worth $700 million with Standard Chartered, the company said.
Larsen & Toubro (L&T) is a $30 billion Indian multinational engaged in EPC projects, hi-tech manufacturing, and services, operating across multiple geographies.