Continue reading this on our app for a better experience

Open in App
Floating Button
Home News Sustainability

Optus first Aussie telco to ink sustainability-linked revolving credit facility worth A$1.4 billion

Lim Hui Jie
Lim Hui Jie • 1 min read
Optus first Aussie telco to ink sustainability-linked revolving credit facility worth A$1.4 billion
Photo Credit: The Edge Singapore/Samuel Isaac Chua
Font Resizer
Share to Whatsapp
Share to Facebook
Share to LinkedIn
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

Singtel subsidiary Singtel Optus has signed a A$1.4 billion ($1.37 billion) sustainability-linked revolving credit facility, becoming the first such revolving credit facility by an Australian telco.

The three-year revolving credit facility is launched under Olives, Singtel’s sustainable financing programme, and will mature on 24 April 2025.

The loan features interest rate discounts that are linked to Optus’ achievement of reducing its absolute greenhouse gas emissions by 25% by 2025, compared to a 2015 baseline.

The loan will be used to refinance its existing credit facilities, as well as other general corporate purposes.

Singtel Group CFO Arthur Lang said, “The launch of Optus’ sustainability-linked bond last November has given us good insights into investors’ environmental concerns, and type of commitments they want to see from corporates’ green financing efforts”

He adds that the company has built on those lessons to launch the first sustainability-linked revolving credit facility by an Australian telco, “which further underscores our commitment to aligning our financing strategy to the group’s sustainability targets.”

See also: Ngee Ann Polytechnic opens a new academic school that combines 3 disciplines

Singtel shares closed on Apr 28 at $2.78, down one cent or 0.36% lower than its previous close.

Highlights

Re test Testing QA Spotlight
1000th issue

Re test Testing QA Spotlight

Get the latest news updates in your mailbox
Never miss out on important financial news and get daily updates today
×
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
© 2024 The Edge Publishing Pte Ltd. All rights reserved.