First green loan in US as utility CMS gets metrics-linked revolver

The margins paid by Michigan utility CMS Energy on two revolving credit facilities totalling $1.4bn will, for the first time, be linked to its sustainability goals, as a result of amendments signed on June 5.

  • By Richard Metcalf
  • 13 Jun 2018

Loans that offer adjusted margins based on the issuer hitting environmental or sustainability targets are a fast-growing product in Europe, but these are the first for a US borrower, according to an announcement from CMS. 

Its environmental targets include eliminating coal from its fuel mix, reducing carbon emissions by ...

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