Drax and Octopus give sterling loans green sheen

By Mike Turner
19 Nov 2020

The sterling syndicated loan market hosted two environmentally friendly trades this week, with UK power generation company Drax and renewables fund Octopus Renewables Infrastructure signing facilities.

Drax’s £300m trade is linked to environmental, social and governance metrics that will see the margin on the loan reduce if the company hits carbon intensity targets. 

The facility matures in 2025 and comes with a one year extension option. It refinances a deal that was due next ...

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