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 ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access:

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: or find out more online here.

Global Green Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Bank of America Merrill Lynch 553.48 3 8.76%
2 Deutsche Bank 482.53 2 7.64%
3 Barclays 458.32 2 7.25%
4 Credit Agricole CIB 450.35 3 7.13%
5 UniCredit 367.96 2 5.82%