Aeroflot signs sustainability-linked loan agreement with Sovcombank

Friday 28 May 2021 09:46 CET | News

Russia-based airlines company Aeroflot has signed sustainability-linked loan agreement worth USD 320 million with Sovcombank.

The financing costs of the revolving credit facility will be linked to the company’s ESG performance assessed by MSCI ESG rating agency. In April 2021, MSCI ESG re-affirmed the company's BB rating.

This is another loan in Sovcombank portfolio, which is linked to the borrower's obligations in the area of sustainable development. PJSC Sovcombank is a universal bank with assets of RUB 1.5 trillion under IFRS. 

ESG-credit is a financial product, the terms of which are determined by compliance with a number of requirements based on the impact on the environment, the social sphere, as well as the through an assessment of the quality of management (ESG – Environmental, Social and Governance).

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Keywords: supply chain finance, lending, trade finance
Categories: Banking & Fintech | E-invoicing, SCF & E-procurement
Countries: Russian Federation
This article is part of category

Banking & Fintech