Tata Comms raises $250 mn sustainability linked loan

"Our endeavour is to concern our aboriginal borrowings (including refinancing of existing indebtedness arsenic it matures) nether the SLL released. The quantum and tenure of which volition beryllium a relation of backing requirements astatine the clip of borrowing. As we speak, we person conscionable closed a $250 cardinal loan—from ANZ, DBS and Export Development Canada—for a tenure of 5 years nether this framework," helium said successful effect to queries from Mint.

Tata Communications, which provides enterprises with communications exertion solutions, said successful a connection connected Thursday that it has adopted the SLL and volition align each aboriginal semipermanent indebtedness financing with its biology commitments. The Tata radical institution is the archetypal successful its assemblage to person taken this initiative. It has committed to beryllium nett zero successful c emissions by 2035 crossed its planetary operations.

Loans wrong the SLL model person margins tied to c emanation simplification targets, oregon non-financial covenants, incentivising continuous betterment successful sustainability performance. By linking indebtedness margins to measurable targets, it demonstrates a committedness to quantifiable results, allowing stakeholders to way advancement and recognise milestones.

By linking its indebtedness margins straight to biology impact, Tata Communications aims to thrust meaningful alteration portion fostering a deeper integration of the Tata Group's overarching sustainability aspirations with its ain superior structure, the institution said.

Tata Communications’ indebtedness was ₹9,126 crore arsenic of the 4th ended March 2024, up from ₹5,711 crore successful the aforesaid play of the erstwhile year. The indebtedness has mostly been taken connected to money acquisitions made successful the past twelvemonth which person fixed the institution a footprint successful the US markets.

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Published: 02 May 2024, 08:31 PM IST