Dentons US LLP
05/17/2021 | Press release | Distributed by Public on 05/17/2021 09:38
Dentons advises UniCredit on US$50 million ESG-linked loan to SIBUR
May 17, 2021
Moscow, Warsaw-Global law firm Dentons has advised UniCredit on a US$50 million sustainability-linked loan to PJSC SIBUR Holding, the largest integrated petrochemicals company in Russia and one of the fastest-growing companies in the global petrochemicals industry.
The sustainable financing agreement is linked to SIBUR's progress in meeting its targets within the Sustainable Development Strategy. SIBUR's interest rate on the loan will vary depending on whether it meets its targets with regard to reductions in greenhouse gas emissions and water consumption, and production of PET with recycled content. SIBUR is the first petrochemical company in Russia to enter into a loan agreement linked to its sustainability performance.
Partner Mark Segall (Warsaw) led the Dentons team on the deal, in collaboration with partner Andrei Strijak (Moscow), senior associate Lawrence Florescu (Bucharest), and associates Mikhail Fedorov and Marina Smirnova (both Moscow).
Mark Segall commented on the deal, 'The use of ESG-related financing models is becoming increasingly attractive for both lenders and borrowers alike, providing new incentives for achieving sustainability objectives, while also increasing access to capital. This deal illustrates Dentons' capabilities at the forefront of the sustainable finance trend.'
About Dentons
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