Atlantica gets ESG-linked financial guarantee line from ING
Author: 401(K) 2012 on Flickr, CC BY-SA 2.0
Clean energy yieldco Atlantica Yield Plc (NASDAQ:AY) said today it has signed an environmental, social and governance (ESG)-linked financial guarantee line with a limit of about USD 39 million (EUR 35m).
Atlantica has obtained the guarantee line from global financial institution ING Groep NV (AMS:INGA). The company noted that the green guarantees will be exclusively used for renewable energy assets and that the cost is linked to its ESG performance under sustainable rating agency Sustainalytics.
Sustainalytics’ ESG Risk Rating assessment indicates that there is low risk for Atlantica to experience material financial impacts from ESG factors because of its medium exposure and strong management of material ESG issues.
A week earlier Atlantica concluded the issuance of its new senior unsecured note issuance facility agreement (NIFA) to redeem all outstanding senior notes on May 31, 2019.