L&T converts a $150 million term loan into a Sustainability Linked Loan (SLL)

A $150 million term loan to Larsen and Toubro Limited (L&T) from Bank of America has been converted to a Sustainability Linked Loan (SLL).

The facility includes interest rate modifications according to L&T’s sustainability goals, like lowering greenhouse gas emissions and water use intensity relative to goal levels. These goals have been established because they are crucial to the company’s operations and the loan complies with their SLL standards. L&T continues to focus on achieving water neutrality by 2035 and carbon neutrality by 2040.

A $23 billion Indian multinational Larsen and Toubro has been working on EPC projects for almost 80 years.