UPL invites banks to join $500m SLL

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By Pan Yue
05 Mar 2021

Indian agrochemical firm UPL Corp has opened the country’s first sustainability-linked loan into syndication.

MUFG Bank and Rabobank are the mandated lead arrangers and bookrunners for the $500m five year transaction, according to a banker close to the situation.

The margin is set at 130bp over Libor. UPL can enjoy an up to 5bp reduction in pricing if pre-determined ...

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