L&T secures $700 million Sustainability-Linked Trade Facility from Standard Chartered

New Delhi: Larsen & Toubro (L&T) on Monday announced securing a Sustainability-Linked Trade Facility (SLTF) worth USD 700 million from Standard Chartered.

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The SLTF is tied to specified key performance indicators (KPI) such as the intensity of greenhouse gas emissions and fresh-water withdrawal, and targets that are crucial to L&T's business operations.

It is also aligned with the Loan Market Association's Sustainability-Linked Loan Principles, ensuring adherence to market standards for sustainability-linked financing, L&T said in a statement.

Having issued India’s first listed sustainability-linked bond, for USD 60 million, under SEBI's ESG Bond Framework in June this year, L&T has now secured an SLTF worth USD 700 million with Standard Chartered, the company said.

Larsen & Toubro (L&T) is a USD 30 billion Indian multinational engaged in EPC projects, hi-tech manufacturing, and services, operating across multiple geographies.

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