UPL raises second tranche of $700M SLL

The first tranche of $750M was raised in March and April 2021.

UPL Limited a global leader of crop protection products and sustainable agricultural solutions has announced, has raised a second tranche of $700 million sustainability linked loan (SLL) on December 31, 2021, with a reduction of interest cost by 35bps and an opportunity for a further reduction of 5bps on achievement of sustainability indicators agreed with the banks.

The first tranche of $750 million was raised in March and April 2021. Of the $1.45 billion, the debt maturity for $1.25 billion gets extended by two years to FY 2026 (against FY2024 earlier).

In 2021, the company was ranked as the highest performing top tier, global crop protection company amongst its peers by Sustainalytics for the second year running. UPL also recorded strong performances in the most recent Dow Jones Sustainability Index (61 per cent improvement on 2018 score) and FTSE Russell (68 per cent higher than industry average).

UPL is on a mission to re-imagine sustainability across everything it does – developing and distributing solutions that secure our future whilst safeguarding the environment.

The first tranche of $750M was raised