Downer is listed on the Australian Securities Exchange and employs more than 33,000 people.Learn more
Downer is a leading provider of integrated services in Australia and New Zealand.
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We understand the importance of having a responsible and forward-thinking approach to sustainability.Learn more
Our people are fundamental to the culture and success of Downer.Learn more
Downer has over 300 sites across Australia and New Zealand with our head office based in Sydney.Learn more
Sustainability linked loans (SLL) are designed to incentivise borrowers, like Downer, to deliver on commitments to sustainability and to support sustainable economic activity and growth.
The new committed facility comprises three, four, five and six year tranches, and has been structured to enhance the debt maturity profile, reduce average borrowing costs and provide flexibility as the Group continues its program of divesting non-core businesses.
The sustainability aspect of the new facility is underpinned by KPI metrics relating to Downer’s greenhouse gas emissions reductions and social sustainability that, if realised, will lead to a reduction in borrowing costs under the facility. These sustainability KPIs are unique to Downer and reflect the Group’s continued commitment to its sustainability performance and investment in its people.
The refinancing was the final step in the consolidation of the Group’s debt platforms subsequent to achieving 100 per cent ownership of Spotless on 21 September 2020 and provided an ideal opportunity to align the Group’s financing and sustainability strategies.
The $1.4 billion syndicated sustainability linked loan facility was the largest SLL in Australia in 2020. It was also voted the best in Australia and the Asia Pacific region.
Domestic financial markets publication, KangaNews, awarded Downer the Australian Syndicated Loan Deal of the Year in the annual KangaNews Awards, which polls hundreds of market participants each year to determine the award winners. Asia Pacific Loan Markets Association (APLMA), the industry body that governs bank loan markets in the region, then awarded Downer the Syndicated Green/Sustainable Deal of 2020.