Baker McKenzie has successfully acted for HSBC as sole capital structuring and sustainable finance advisor, on the AUD 1.5 billion multi-currency syndicated sustainability linked loan facility for Ramsay Health Care, along with the other arranging banks, NAB, MUFG and CBA and a wider lending syndicate of more than 20 global financial institutions.
Baker McKenzie's lead partner on the transaction, Alastair Gourlay stated: "The financing was oversubscribed and was supported by a wide range of Australian, Asian, European and North American lenders, which is testament to the ever growing lender interest in financing sustainability linked loans. "
When further asked about this growing trend, Alastair commented: "We have seen a significant uptick in sustainability linked loans in the past 18 months. Where previously CEOs, CFOs and Boards would ask 'why should I do a sustainability linked loan?', that question now needs to be 'why am I not doing a sustainability linked loan?' given the ever increasing spotlight that institutional investors are putting on ESG targets as well as the credit and reputational enhancements that corporates are achieving by putting in place sustainability linked loans."
Alastair was assisted by an Australian Baker McKenzie team comprising: Miles Hurst, Adam Jeffrey, Emily Tsoi and Shakti Srikanth, along with lawyers from Baker McKenzie's London office - Matthew Smith, Lola Oni and Holly Bradley.
King & Wood Mallesons acted for Ramsay Health Care.