Cadwalader Logo
Link to home page
Filters »
Search
Fund Finance Friday banner Fund Finance Friday banner Fund Finance Friday banner
Search
Filters »
Cadwalader Advises Bank of America on $4.1 billion ESG-Linked Credit Facility Tied to Board Diversity
February 19, 2021 | Issue No. 114

Bank of America, as Administrative Agent and Sole Lead Arranger, working with Cadwalader, successfully closed a $4.1 billion broadly syndicated subscription credit facility to funds managed by The Carlyle Group. Pricing for the three-year revolving facility, the largest U.S. ESG-linked fund finance transaction to date, is tied to progress towards the goal of achieving 30% diverse representation on portfolio company boards within two years of ownership. Carlyle was represented by Latham & Watkins, LLP.  

The fund finance market is moving in step with asset managers to respond to the rapidly expanding demand from investors for socially conscious investment alternatives. ESG-linked credit facilities provide funds and lenders the opportunity to advance shared priorities by tying facility pricing to specific sustainability and/or social impact objectives.

“We see a clear runway for growth in ESG fund lending in 2021 for lenders interested in taking a proactive approach,” said Cadwalader partner Wes Misson. “This provides an immense opportunity to shape our market in a socially responsible and impactful way.”

Carlyle issued a press release on the facility available here, and The New York Times and Bloomberg reported on the transaction here and here.

Search
Filters »

Recent Issues

October 25, 2024
October 18, 2024
October 11, 2024
All Issues »

Quick Links

»
Primers
»
Primers

Recent Issues

October 25, 2024
October 18, 2024
October 11, 2024
All Issues »
© 2024 | Notices | Manage Subscription | Contacts