By TT News| Dec 27, 2021

Birla Carbon Raises USD 750 Million Via First Sustainability-Linked Loan

Birla Carbon, the manufacturer of carbon black solutions, has raised $750 million through sustainability linked loan (SLL) from a syndicate of more than 15 banks. The proceeds will be used to refinance Birla Carbon’s existing debts. The ANZ Group is the sole sustainability coordinator for this deal. 

In 2021, Birla Carbon announced the launch of its Continua brand of Sustainable Carbonaceous Materials (SCM) and its target to achieve net-zero carbon emissions by 2050. 

John Loudermilk, Chief Executive Officer, Birla Carbon, said, “Sustainability and innovation are two of Birla Carbon’s key pillars responsible for our leadership in the industry. Pursuing the goal of sustainable business growth, aligned with our purpose (to share the strength), has brought immense synergies of shared aspirations with all our business partners and stakeholders.” 

Surendra Goyal, Chief Financial Officer, Birla Carbon, said, “With the launch of SCMs with the Continua brand, our aspiration to reach net-zero carbon emissions by 2050, and the Sustainability Linked Loan, we are now better placed to give Birla Carbon a real competitive advantage, in the years to come. Linking our borrowing programs to these pillars of growth sets us on a path that will double our success.” (TT)

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