Highly commended, sustainability-linked loan of the year: Aligned
Aligned's $1 billion sustainability-linked loan attracted the attention of the Environmental Finance Bond Award judges for being the first US data centre to utilise sustainability-linked financing.
The structure consisted of a $650 million term loan, a $100 million delayed draw term loan and a $250 million revolving credit facility, that each incorporate sustainability improvement mechanisms.
The sustainability-linked financing is tied to the company's core environmental, social and governance (ESG) objectives, and Key Performance Indicators (KPIs), including:
- Renewable energy: A commitment to match 100% of Aligned's annual energy consumption to zero-carbon renewable energy by 2024;
- Sustainability reporting: This target aligns the company's ESG reporting efforts with a global standard and ensuring ESG disclosure for Aligned stakeholders;
- Workplace safety: A commitment to having and reporting on a Total Recordable Incident Rate (TRIR).
Aligned engaged TD Securities as the administrative and collateral agent, Goldman Sachs Lending Partners as the syndication agent and ING Capital as the sustainability structuring agent.
TD Securities, Goldman Sachs Bank USA, Citizens Bank, Deutsche Bank, New York Branch, and Nomura Securities International served as joint bookrunners and joint lead arrangers for the facility.
The company offers adaptable colocation and build-to-scale solutions for cloud, enterprise, and managed service providers.