HDFC Bank, Mastercard, USAID and DFC Launch $100 Million Credit Facility for Micro, Small and Medium Enterprises (MSMEs) in India

HDFC Bank, Mastercard, U.S. International Development Finance Corporation (DFC), and U.S. Agency for International Development (USAID) launched a $100 million credit facility to promote and encourage small businesses in India to digitize, while also helping Indian businesses, particularly those that are women-owned, to recover from the economic impacts of the pandemic. COVID-19 has had a disproportionate impact on small businesses, forcing many to close prematurely. Additionally, the accelerated shift to digital payments engendered by the pandemic means that small businesses must adapt to changing market dynamics and consumer preferences to…

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John Lewis Partnership signs new credit facility linked to environmental targets

The John Lewis Partnership has signed a new £420m five-year revolving credit facility linked to environmental targets.  The facility is provided by seven banks who continue to offer important backing to the Partnership and its plans. The financing replaces existing facilities of £500m, which are due to expire at the end of 2022.  Under the terms of the new agreement, the interest rate we pay on the facility will vary depending on whether we achieve three environmental targets over five years related to reducing carbon emissions, reducing food waste and…

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UPM signs a EUR 750 million revolving credit facility tied to long-term biodiversity and climate targets

UPM is one of the first companies to link the pricing mechanism of a syndicated revolving credit facility (RCF) to both biodiversity and climate targets. The margin of the RCF is tied to two key performance indicators (KPIs): achievement of a net positive impact on biodiversity in the company’s own forests in Finland a 65% reduction of CO2 emissions from fuels and purchased electricity by 2030 from 2015 levels, in line with UPM’s commitment to UN Business Ambition for 1.5°C “Connecting UPM’s sustainability performance to our financing demonstrates the importance…

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