Siemens Gamesa follows ESG derivatives trend with IRS

Wind farms from Fotolia 230x150
By Ross Lancaster
09 Mar 2020

Siemens Gamesa, the wind power provider, has tapped into the nascent market for ESG derivatives with a three year interest rate swap executed by HSBC.

The swap converted a €250m piece of a floating rate sustainability-linked loan into fixed rate format. The derivative will also include an environmental, social, and governance (ESG) trigger that incentivises Siemens Gamesa to improve its ESG rating, and obliges it and HSBC to make annual charitable donations.

The swap’s ...

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