L&T closes $107 million sustainability linked loan with SMBC

01 Dec 2022 Evaluate

Larsen & Toubro (L&T) has successfully closed a three-year $107 million sustainability-linked loan from Sumitomo Mitsui Banking Corporation (SMBC) on November 30, 2022, with SMBC appointed as the sole Sustainability Coordinator and Lender. This sustainability linked loan underscores L&T’s continued commitment to its environmental, social and governance (ESG) goals.

The facility incorporates interest rate reductions linked to the achievement of two of L&T’s predetermined sustainability targets - the reduction of greenhouse gas emission intensity and water consumption intensity against the target levels. These targets have been selected on the basis that they are relevant and material to the company’s overarching sustainability position and strategy. The loan fulfilled the core requirements under the Sustainability Linked Loan Principles and DNV Business Assurance Singapore has provided Second Party Opinion on L&T’s SLL.

L&T is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services.

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