Envision Energy closes $600m sustainability-linked loan in Hong Kong

It involved 13 banks and included a $100m greenshoe option.

Envision Energy has secured a $600m equivalent 1+2 year sustainability-linked syndicated term loan, its largest non-project syndicated loan in the international offshore credit market.

The loan, oversubscribed from an initial $500m, involved 13 banks and included a $100m greenshoe option.

It was jointly lead-arranged by Banco Bilbao Vizcaya Argentaria and Crédit Agricole Corporate and Investment Bank, with participation from banks across Australia, Germany, France, Italy, Spain, the Middle East, and China.

The financing was jointly lead-arranged by Banco Bilbao Vizcaya Argentaria and Crédit Agricole Corporate and Investment Bank, which served as Sustainability Structuring Coordinators, Mandated Lead Arrangers, Bookrunners, and Underwriters. The participating lenders include banks from Australia, Germany, France, Italy, Spain, the Middle East, and China.

The transaction was structured as a sustainability-linked loan (SLL), with borrowing terms tied to Envision’s achievement of specific Sustainability Performance Targets (SPTs). These include reductions in Scope 3 greenhouse gas emission intensity and increases in the company’s annual wind turbine installed capacity.