Linklaters advises Balfour Beatty on the largest sustainability linked loan in the UK construction sector

Linklaters has advised Balfour Beatty Plc on the conversion of their £375 million revolving credit facility to the largest sustainability linked loan in the UK construction sector to date. Lloyds Bank acted as sole Sustainability Coordinator and Facility Agent.

Balfour Beatty is a British multinational infrastructure group based in the United Kingdom with capabilities in construction services, support services and infrastructure investments.

Under the terms of the new deal, the cost of borrowing will depend upon Balfour Beatty’s performance in reducing carbon emissions, generating social value and improving its environmental, social and governance score on the independent Sustainalytics index. Balfour Beatty has been at the forefront of sustainability in the construction sector, with clear targets and ambitions set out in the company’s Group Sustainability Strategy.

The Linklaters team was led by Banking partner Ian Callaghan together with managing associate Atish Shah and associate Sagar Gupta.