Westpac joins sustainability lending club with Contact Energy loan

Wed, 15 Jan 2020

Westpac New Zealand has made its first foray into a sustainability-linked loan, lending $50 million to Contact Energy.The four-year facility is the first such loan issued by Westpac NZ, and follows a similar move by ANZ Bank New Zealand, which transferred an existing $50 million committed four-year revolver loan with Synlait Milk into an environmental, social and governance - or ESG - linked loan last year.“Sustainability-linked loans are an incentive-based tangible tool for companies to demonstrate their sustainability commitments to stakehold...

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