L&T closes $107-M sustainability-linked loan with Japan's SMBC

EPC major Larsen & Toubro Ltd has closed a three-year USD 107 million sustainability-linked loan (SLL) from Sumitomo Mitsui Banking Corporation (SMBC). The facility incorporates interest rate reductions linked to the achievement of two of L&T's pre-determined sustainability targets – reduction of greenhouse gas emission intensity and water consumption intensity against the target levels. DNV Business Assurance Singapore Pte. Ltd. provided second party opinion on L&T's SLL.