Rusal has signed the first internationally syndicated sustainability-linked loan from Russia. The heavily oversubscribed facility is part of a slowly growing shift towards green financing in Russia, said bankers.
The five year sustainability linked pre-export finance facility was launched at $750m in September. Due to heavy oversubscription, the facility closed at $1.085bn.
The margin on the deal is subject to tightening depending on Rusal's fulfilment of pre-agreed sustainability key performance indicators (KPIs). Those KPIs concern Rusal's environmental