Vestas makes debut in sustainability-linked loans

By Mike Turner
30 Apr 2021

Vestas, the Danish wind turbine maker, has signed a €2bn-equivalent facility linked to key performance indicators around sustainability. It was the first time the borrower has structured bank debt in this way.

Vesta’s multi-currency revolving credit facility has a five year maturity and comes with two one year extension options. It refinances a €1.15bn conventional revolver signed in 2017.

The deal links the margin to KPIs based around reducing carbon emissions both within the company and in its supply chain; increasing ...

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