The Port of Brisbane has agreed to terms on a AUS$500 million sustainability-linked loan, to be financed by a syndicate of ten banks.
The loan aims to be executed under the port’s sustainability financing framework and will also be linked to key performance indicators (KPIs) across three important areas, namely emissions reduction, biodiversity, and mental health first aid.
The sustainability linked loan was negotiated as part of a larger AU$850 million syndicated bank loan transaction in November 2022 and will take effect from June 2023.
According to Port of Brisbane Pty Ltd (PBPL) chief executive, Neil Stephens, the deal would support the Australian port’s ongoing investment while cementing its place as an industry leader in sustainability.
The AU$500 million sustainability-linked loan is split across two terms, AU$240 million over a four-year term and AU$260 million over a six-year term and will allow PBPL to decrease its funding costs should it meet the aforementioned targets.
