Industry: Oil & gas
A sustainability linked credit facility is a new type of arrangement in which financial institutions agree to reduce or increase the borrowing costs as sustainability and ESG targets are met or missed, determined through third-party sustainability performance measures. The use of a sustainability linked credit facility is another way companies are able to keep their businesses accountable and on-track to meeting and/or exceeding their environmental, social and governance targets.
Canadian Imperial Bank of Commerce (“CIBC”) acted as sole lead arranger and sole bookrunner.
Vinson & Elkins LLP acted as U.S. legal advisor to Enerplus.