ING Turkey, a part of ING Group, said it has closed its first sustainability linked syndicated loan. The proceeds of the ESG-linked $37 million and $321 million term loan facilities will be used by the bank for general trade finance purposes.
The two 367-day facilities were priced at Libor + 2.50 percent per year and Euribor + 2.25 percent per year, respectively, the bank said in a statement.
Twenty two banks across the globe and investors from North America, Europe, Asia and Middle East joined the facilities.
The loans incorporated ESG-related key performance indicators (KPI) regarding sustainable asset growth, increased use of renewable energy resources for electricity consumption and gender balance. The pricing of the facilities will be adjusted as per ESG-linked pricing mechanism, it said.
(Writing by Brinda Darasha; editing by Daniel Luiz)
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