Nedbank secures $350m sustainability-linked syndicated loan facility

Financial services company Nedbank, through its London branch, has signed and closed a $350-million sustainability-linked syndicated term loan facility, with a margin contingent on the company’s performance in terms of two internal key performance indicators, namely renewable energy consumption as a percentage of the total energy consumption and reduction of total Scope 1 and 2 emissions. The proceeds will be used for the refinancing of the remaining balance outstanding under the $500-million syndicated term loan facility dated November 5, 2019, of which $250-million was prepaid in 2021, as well as general corporate purposes, the bank said on October 20.