ANZ ties $50m loan for Synlait to environment, social and governance measures

Mon, 23 Sep 2019

By Rebecca Howard Sept. 24 (BusinessDesk) - Synlait Milk will reap cheaper interest costs if it hits various environmental, social and governance in a $50 million, four-year loan with ANZ Bank. However, if it falls short, that bill will be higher. “This is the first time any New Zealand company has agreed with its bankers to link its sustainability agenda to its cost of funds. This is exciting and innovative,” Katharine Tapley, head of sustainable finance solutions for ANZ, told BusinessDesk. The loan will effectively transfer ANZ’s...

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