Press Release20 Jun 2024, 04:30 pm
TATA COMMUNICATIONS SECURES USD 250 MILLION SUSTAINABILITY-LINKED LOAN FROM ANZ, DBS BANK & EDC
AI Summary
Tata Communications has secured a five-year USD250 million sustainability-linked loan (SLL) from ANZ, DBS Bank and Export Development Canada (EDC). The loan is the first SLL for Tata Communications under the company’s new SLL framework, which links the company's funding with key objectives such as carbon emission reduction targets. The interest rate margin of the loan will be adjusted up or down in accordance with the progress that Tata Communications will achieve on its carbon emission reduction targets. The company aims to be Net Zero across its global operations by 2035.
Key Highlights
- Tata Communications secures USD 250 million sustainability-linked loan from ANZ, DBS Bank & EDC.
- The loan is the first SLL for Tata Communications under the company’s new SLL framework.
- The framework links the company's funding with key objectives such as carbon emission reduction targets.
- The interest rate margin of the loan will be adjusted based on the company's progress on carbon emission reduction targets.
- Tata Communications aims to be Net Zero across its global operations by 2035.