Westpac NZ and Contact Energy (ASX:CEN) agree first sustainability-linked loan

  • Home
  • Company News
  • Westpac NZ and Contact Energy (ASX:CEN) agree first sustainability-linked loan
15Jan

Westpac NZ and Contact Energy (ASX:CEN) agree first sustainability-linked loan

 

Westpac NZ and Contact Energy (ASX:CEN) have entered into a $50 million, four-year sustainability linked loan facility. The loan is the first of its kind in New Zealand.

Contact Energy will be incentivized by a discounted interest rate on the sustainability-linked loan if it meets ambitious targets linked to its environmental, social and governance (ESG) rating.

 Conversely, Contact will pay higher interest costs if it doesn’t meet the rating targets agreed with Westpac.

Westpac NZ’s Head of Sustainable Finance, Joanna Silver, says the loan is a good example of businesses working together to drive better environmental and social outcomes, and enhanced corporate governance.

Shares in Contact Energy (ASX:CEN) closed 4.2 per cent higher yesterday at $7.26.
 
Copyright 2020 – Finance News Network


Source: Finance News Network

Share this post

Related Posts

19Nov

Immutep Limited (ASX:IMM) completes $29.6m placement to expand clinical development

19 Nov 2020 - Immutep Limited (ASX:IMM) is advancing clinical development for its lead product candidate eftilagimod alpha through the expansion of its ongoing TACTI-002 study and a new Phase II trial.

Read More
11May

Z Energy (ASX:ZEL) reports $88 million loss

11 May 2020 - Z Energy (ASX:ZEL) reported a net loss after tax of $88 million New Zealand dollars for the year ending 31 March 2020.

Read More
21Sep

Stocks of the Hour: Immutep, Vulcan Energy Resources, Australian Gold and Copper

21 Sep 2023 - A snapshot of the stocks on the move, featuring Immutep (ASX:IMM), Vulcan Energy Resources (ASX:VUL) and Australian Gold and Copper (ASX:AGC).

Read More
07Jul

Comet Ridge (ASX:COI) reports that the Mahalo Gas Project has received petroleum lease approvals

07 Jul 2020 - Comet Ridge (ASX:COI) is pleased to announce that the Mahalo Gas Project has been granted Queensland State Government Petroleum Leases.

Read More
22Oct

Fonterra (ASX:FSF) raises milk price forecast

22 Oct 2019 - Fonterra (ASX:FSF) has this morning announced it is increasing its forecast farmgate milk price range from $6.25 - $7.25 per kgMS to $6.55 - $7.55 per kgMS.

Read More
10Dec

Evolution Mining Limited (ASX:EVN) acquires 100% of Crush Creek

10 Dec 2020 - Evolution Mining Limited (ASX:EVN) has bought 100 per cent interest in the Crush Creek project in Queensland.

Read More
20Sep

Pushpay upgrades FY20 EBITDAF guidance

20 Sep 2019 - Pushpay Holdings (NZSX:PPH; ASX:PPH) now expects Earnings before Interest, Tax, Depreciation, Amortisation and Foreign Currency to be between US$23M and US$25M for the year ending 31 March 2020.

Read More
03Jul

Worley (ASX:WOR) awarded services contract for European battery project

03 Jul 2020 - Worley (ASX:WOR) has been awarded a services contract from BASF. The contract is for engineering, procurement and construction management services needed to assist the company’s European battery material investment project in Finland.

Read More
28Nov

IMF Bentham (ASX:IMF) reaches binding settlement agreement regarding Bellamy’s class action

28 Nov 2019 - Further to the announcement made on 5 November 2019 that an in-principle settlement of the securities class action against Bellamy’s Australia (ASX:BAL) had been reached, IMF Bentham (ASX:IMF) says it has progressed to an executed binding settlement agreement.

Read More
19Oct

Stocks of the Hour: Azure Minerals, AuKing, Delorean Corp, Carbonxt Group

19 Oct 2022 - A snapshot of the stocks on the move featuring Azure Minerals (ASX:AZS), AuKing (ASX:AKN), Delorean Corporation (ASX:DEL) and Carbonxt Group (ASX:CG1).

Read More