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Blackmores converts existing loans to achieve ‘ambitious emissions reduction targets’
Listed Australian health supplements company Blackmores has converted $75 million of existing loan facilities into sustainability-linked loans.
Jerome Doraisamy
Firm: Allens (Blackmores)
Area: Banking and finance
Value: $75 million
Key players: The Allens team was led by partner Nicholas Adkins, who was supported by senior associate Sunny Jong and lawyer Jessica Shao.
Deal significance: Mr Adkins said: “It was fantastic to work with Blackmores and in particular head of group treasury Shaun Egelton to set up its new sustainable finance platform.
“Sustainability finance is a rapidly growing area and Blackmores has had a long-held commitment to sustainability, so it is great to see it take this further step to embed its ESG goals across its business in an ambitious, quantifiable and tangible way.”
Blackmores Group head of treasury Shaun Egelton added: “It was great to have the support of Nick, Sunny and Jessica throughout the refinancing of our bank debt facilities.
“Apart from the advice on the broader facility terms, it was clear from the outset that Nick and the broader Allens team have an in-depth knowledge of sustainability financing. Blackmores was able to leverage off this and set ambitious targets aligned to Blackmores’ overall commitment to sustainability.”
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Jerome Doraisamy
Jerome Doraisamy is the managing editor of Lawyers Weekly and HR Leader. He is also the author of The Wellness Doctrines book series, an admitted solicitor in New South Wales, and a board director of the Minds Count Foundation.
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