Sydney Airport’s A$1.4 Billion Market-Leading Sustainability Linked Loan

Allens has advised on the refinancing of Sydney Airport Finance Company Pty Limited’s (Sydney Airport) (ASX: SYD) syndicated bank debt facilities, the first syndicated and largest sustainability linked loan ever in the Australian market.

The A$1.4 billion loan is sustainability linked, incentivising Environment, Social and Governance (ESG) outcomes by Sydney Airport group members by reference to an independently assessed sustainability benchmark.

Allens acted for the syndicate of major domestic and international lenders, including the joint Sustainability Co-ordinators and Bookrunners, Australia and New Zealand Banking Group Limited and BNP Paribas.

The transaction builds upon Allens’ work to develop principles for green and sustainable loans and similar products like social impact bonds in the Australian and Asian loan markets.

Allens advised with a team including Renee Boundy (Picture), Edward Chuah and Kate Buchanan (Finance), Elise Ho (Tax).

Involved fees earner: Renee Boundy – Allens; Kate Buchanan – Allens; Edward Chuah – Allens; Elise Ho – Allens;

Law Firms: Allens;

Clients: Sydney Airport Finance Company Pty Ltd;