Buddle Findlay is proud to have advised Contact Energy on the conversion of $305m of existing loans into sustainability linked loans (SLLs). This is the largest deal of its type in New Zealand to date.
The number of SLLs has grown rapidly over the last few years, both in New Zealand and worldwide. Contact Energy's new SLLs are with ANZ, Bank of New Zealand, Commonwealth Bank, China Construction Bank (New Zealand) Limited and Mizuho and are tied to environmental performance, incentivising the achievement of ambitious and predetermined environmental targets.
Buddle Findlay partner Miriam Andrews said "we share Contact Energy's passion for and commitment to green finance, and were excited to be working alongside them at the forefront of this rapidly developing area".
More information is available on the Contact Energy website.