Slaughter and May advised Alunorte – Alumina Do Norte Do Brasil S.A. on its $200,000,000 sustainability-linked credit facility
Slaughter and May advised Alunorte – Alumina Do Norte Do Brasil S.A. (“Alunorte”), on its new $200 million 7-year term loan facility agreement. The new $200 million facility aims to support Alunorte’s fuel switch project which involves the replacement of heavy fuel oil with natural gas at Alunorte’s alumina refinery located in Barcarena, State of Para, Brazil. In line with Hydro´s commitment towards sustainability, the facility also includes a sustainability-linked margin ratchet based on meeting certain key performance indicators relating to reductions in the level of CO2 emissions.
The facility agreement was coordinated by BNP Paribas S.A., with DNB Bank ASA as Facility Agent and BNP Paribas Securities Corp acting as Sustainability Coordinator. A group of six lenders make up the syndicate in total.