28 February 2020
McCann FitzGerald advises ESB on First Sustainability Linked Loan
ESB has announced the signing of a new €1.4bn five- year sustainability linked loan, the first Irish utility to do so. The loan has been provided by 14 international banks, with BNP Paribas acting as Coordinator and Sustainability Coordinator.
The Syndicated Sustainability linked loan (SLL) involves the refinancing of its existing revolving credit facility (RCF) and represents the group’s second foray in the sustainable finance markets, following on from its debut green bond launch in June 2019.
McCann FitzGerald acted as lead counsel to ESB in connection with both of the above transactions.