UltraTech Cement raises sustainable linked loan worth $500 million

UltraTech Cement has secured a sustainability-linked loan (SLL) of $500 million from six lenders including Sumitomo Mitsui Banking Corporation (SMBC), State Bank of India (SBI), BNP Paribas, Development Bank of Singapore (DBS), Mitsubishi UFJ Financial Group (MUFG), and Mizuho. SLLs are loans where the interest rate is tied to the borrower’s sustainability performance. SMBC is the sole sustainability coordinator for this transaction and served as the advisor on UltraTech’s sustainability-linked financing framework (SLFF).