May 17, 2022 04:08 AM
FINANCE
Ant Completes China Tech Sector’s First Sustainability-Linked Loan Deal
The deal is the first-ever sustainability-linked loan in China’s technology sector
(Bloomberg) — Ant Group Co. completed the first sustainability-linked loan arrangement in China’s tech sector.
The Chinese fintech company spun off from Alibaba Group Holding Ltd. arranged a sustainability-linked revolving credit line with French bank BNP Paribas SA, Ant said Monday in a statement. Sustainability-linked loans (SLLs) have interest rates that change depending on whether corporations meet environmental goals.
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