Agrochemical firm Syngenta has procured a $4.5 billion, three-year sustainability-linked loan, touted to be the biggest of its kind in Asia, reported Bloomberg.
According to the report, the initial size of the deal was several times oversubscribed. Syngenta also called this sustainability-linked loan the largest of any kind in the Greater China region this year.
A spokesperson of Syngenta told Bloomberg that the loan’s sustainability targets are “closely linked to Syngenta’s new Good Growth Plan, which sets out our global commitments to accelerate our innovation to provide solutions for farmers.”
Syngenta was founded in 2000 by the merger of the agrichemical businesses of Novartis and AstraZeneca. In 2015, it was acquired by Sinochem Holdings Corp.
