UltraTech Cement, an Aditya Birla Group company, has raised $500 million (about ₹4,000 crore) through a sustainability-linked loan with participation from six banks.
The transaction marks the second sustainability-linked financing raised by UltraTech, subsequent to its inaugural sustainability-linked bond issuance in 2021.
Sumitomo Mitsui Banking Corporation acted as the sole Sustainability Coordinator for the transaction and served as the sole advisor on UltraTech’s Sustainability-Linked Financing Framework. Lenders for the transaction include SMBC, SBI, BNP Paribas, DBS, MUFG and Mizuho.
The financing is aligned with UltraTech’s recently published Sustainability-Linked Financing Framework which covers the company’s future sustainability-linked bond and loan issuances.
UltraTech, which is the third largest cement producer in the world, outside of China, has grey cement capacity of 154.86 mtpa and has committed to the ‘net zero concrete roadmap’ announced by Global Cement and Concrete Association.