Sydney Airport delivers USD965m Sustainability Linked Loan

    Sydney Kingsford Smith Airport announced (23-May-2019) the successful delivery of a Sustainability Linked Loan. Highlights include:

    • AUD1.4 billion (USD965 million) of bank debt facilities refinanced at lower margins;
    • Total Sydney Airport average debt maturity extended three months to mid 2025;
    • Debt maturities over 2021-2022 reduced by 38% with next major maturity in late 2020;
    • Strong liquidity position maintained, providing significant capital management flexibility;
    • Direct link established between the airport’s sustainability performance and cost of capital;
    • First syndicated (multi bank) Sustainability Linked Loan in Australia.

    Sydney Airport CEO Geoff Culbert commented: “We are proud to demonstrate continued leadership and innovation across finance and sustainability… In addition to delivering strong capital management outcomes, Sydney Airport continues to demonstrate its commitment to sustainability, in this case by providing a direct link between our sustainability performance and our funding costs”.