ASB and Hawke’s Bay Airport’s $23 Million Sustainability Linked Loan

Simpson Grierson acted for ASB on sustainability linked funding.

Hawke’s Bay Airport has secured a $23 million sustainability linked loan funding from ASB.

The loan uses ASB funds allocated under the Reserve Bank’s Funding for Lending (FLP) programme which the bank has committed to using to support projects that meet sustainability or regional infrastructure criteria.

The loan is being used to fund the airport’s terminal upgrade, in line with its sustainability strategy which includes numerous carbon and waste reduction initiatives and a pledge to reach zero emissions by 2030. Hawke’s Bay Airport is also progressing the next steps of a major solar farm project next to the runway. 

ASB Bank Limited is one of New Zealand’s leading commercial banks. 

The Simpson Grierson team was equally led by banking and finance partner Andrew Harkness (Picture), senior associate Dominic Toomey and senior solicitor Matthew Brew.

 

Involved fees earner: Matthew Brew – Simpson Grierson; Andrew Harkness – Simpson Grierson; Dominic Toomey – Simpson Grierson;

Law Firms: Simpson Grierson;

Clients: ASB Bank Limited;

Sonia Carcano

Author: Sonia Carcano