Bell announces closing of Sustainability-Linked Loan
Bell Canada (Bell) announced today that it has amended its existing $3.5 billion committed credit facilities to convert them to a sustainability-linked loan (SLL)
Supporting our commitment to environmental, social and governance leadership
MONTRÉAL, Nov. 9, 2022 /PRNewswire/ - Bell Canada (Bell) announced today that it has amended its existing $3.5 billion committed credit facilities to convert them to a sustainability-linked loan (SLL). The SLL underscores Bell's continued commitment to environmental, social and governance (ESG) leadership and our purpose to advance how Canadians connect with each other and the world. The SLL follows the announcement of BCE%27s+Sustainable+Financing+Framework">BCE's Sustainable Financing Framework in April 2021 and Bell's inaugural $500 million Sustainability Bond offering in May 2021 with proceeds allocated to eligible green and social investments.
The amendment introduces an annual pricing adjustment that reduces or increases the borrowing cost based on Bell's performance of two key annual sustainability performance targets (SPTs) related to the following Bell science-based greenhouse gas (GHG) targets approved by the Science Based Targets initiative 1 (SBTi):
