Larsen & Toubro Limited (L&T) successfully closed a three-year USD 107 million sustainability-linked loan (SLL) from Sumitomo Mitsui Banking Corporation (SMBC).
SMBC was appointed as the sustainability coordinator and lender. The facility incorporates interest rate reductions linked to the achievement of L&T’s predetermined sustainability targets, namely, reduction of greenhouse gas emission intensity and water consumption intensity. The loan fulfils the core requirements under the sustainability linked loan principles. DNV Business Assurance Singapore Private Limited has provided second party opinion on L&T’s SLL.