Envision Energy has closed a USD 600 million equivalent sustainability-linked syndicated term loan in Hong Kong, marking the company’s largest non-project syndicated loan in the international offshore credit market.
The 1+2 year facility was jointly lead-arranged by Banco Bilbao Vizcaya Argentaria (BBVA) and Crédit Agricole Corporate and Investment Bank (Crédit Agricole CIB), acting as sustainability structuring coordinators, mandated lead arrangers, bookrunners and underwriters. The deal attracted participation from banks across Australia, Germany, France, Italy, Spain, the Middle East and China.
Initially launched at USD 500 million equivalent, the loan was oversubscribed and increased to USD 600 million with 13 banks participating in the final syndication and an additional USD 100 million greenshoe option.
The financing is structured as a sustainability-linked loan (SLL), with pricing tied to the company’s progress against sustainability performance targets, including Scope 3 greenhouse gas emission intensity and annual wind turbine installation capacity. The framework aligns with the Loan Market Association, Asia Pacific Loan Market Association and Loan Syndications and Trading Association sustainability-linked loan principles and has been independently verified by DNV Business Assurance Limited.
Joseph Ma, Co-CFO of Envision Energy, said the transaction reflects “strong confidence from global financial institutions in Envision Energy’s credit profile, business model and sustainability leadership.”
Jorge González Jacob, Head of Corporate Lending at BBVA, said Envision’s “resilient business model and measurable sustainability targets align closely with our financing priorities.” Quentin Galmiche, Head of Corporate & Leveraged Finance Asia Pacific at Crédit Agricole CIB, said the transaction “demonstrates Envision Energy’s position as a global leader in renewable energy.”
