UPL raises $700 million sustainability linked loan
03 January 2022, New Delhi: UPL Ltd. has raised a second tranche of US$700 million sustainability linked loan (SSL) on 31st 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 US$750 million was raised in March and April 2021. Of the US$1.45 billion, the debt maturity for US$1.25 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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