S&P Global unveils $1.5 billion sustainability-linked senior revolver

By Marisa Wong

Los Angeles, April 26 – S&P Global announced a new $1.5 billion senior revolving credit facility that includes a sustainability-linked pricing feature.

The company said this is one of the first sustainability-linked banking facilities in the United States tied to climate action goals verified by the Science Based Targets Initiative (SBTi) and the first such banking facility in the U.S. media and information services sector, according to a press release.

Pricing for the new revolver is linked to the company’s goals to reduce greenhouse gas emissions, which have been verified by the SBTi.

JPMorgan acted as sustainability structuring agent and administrative agent for the syndicated facility. Other joint lead arrangers and joint bookrunners on this transaction were Bank of America as syndication agent and Citibank, Deutsche Bank, HSBC, Mizuho Bank and Morgan Stanley MUFG Loan Partners.

“Linking our line of credit to SBTi-verified targets makes tangible S&P Global’s commitment to becoming net-zero by 2040,” said Ewout Steenbergen, executive vice president and chief financial officer of S&P Global, in the press release.

“This facility will further incentivize S&P Global to achieve its ambitious goal of reducing our greenhouse gas emissions, support a net-zero economy and reinforce our commitment to sustainable corporate citizenship.”

Highlights of S&P Global’s emissions reduction commitments include a 25% reduction in emissions by 2025 from a 2019 base year, including both emissions from operations as well as emissions from business travel.

The provider of credit ratings, benchmarks and analytics in the global capital and commodity markets is based in New York.

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