Ant Completes China Tech Sector’s First ESG-Linked Loan Deal
- Interest rate depends on borrower meeting renewable goals
- Similar loans to companies are growing quickly across Asia
The Ant Group headquarters in Hangzhou, China.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
Ant Group Co. has completed the first sustainability-linked loan arrangement in China’s tech sector.
The Chinese fintech company spun off from Alibaba Group Holding Ltd. has arranged a sustainability-linked revolving credit line with French bank BNP Paribas SA, according to a statement Monday. Sustainability-linked loans (SLLs) have interest rates that change depending on if corporations are able to meet certain environmental goals.