Balfour Beatty converts credit facility
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British builder Balfour Beatty on Wednesday said it had converted its £375m revolving credit facility to a sustainability-linked loan.
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Under the terms of the loan, the company said it would deliver improvement in three areas: carbon emissions, social value generation, and an independent environmental, social & governance rating.
The London-based construction company said performance would be monitored during the lifetime of the credit facility, which has been extended to to October 2024, and depending on the outcomes achieved, a credit margin reduction or increase would apply.