Mumbai : Birla Carbon, a global leader in manufacturing high quality carbon black solutions, has announced the execution of a US$ 750 million Sustainability Linked Loan (SLL) on December 17, 2021, with a syndicate of more than 15 banks. The proceeds from the loan will be used to refinance Birla Carbon’s existing debts. The ANZ Group is the sole sustainability coordinator for this deal.
The announcement is of added significance as earlier in 2021, Birla Carbon announced the launch of the Continua™ brand of Sustainable Carbonaceous Materials (SCM) and its aspiration to achieve net zero carbon emissions by 2050. Birla Carbon has also released its annual Sustainability Report with Key Performance Indicators (KPI) since 2013.
“Birla Carbon has been a pioneer in Sustainability practices both within the carbon black industry and the Aditya Birla Group. This Sustainability Linked Loan facility challenges the organization further to continuously explore sustainable and innovative solutions which will support our goals and that of our customers” Dr. Santrupt B. Misra, Group Director, Birla Carbon, Director, Chemicals and Director, Group HR, said.
Key KPI’s to the facility include; direct CO2 intensity, bringing circular products to market, and an external rating of Sustainability. Pivoting on carbon emissions and circularity, the structure emphasizes the business’s two most relevant sustainability aspects while encompassing the broader ESG canvas through a sustainability rating.