Glossary

Sustainability-linked loan (SLL)

A loan whose margin moves up or down as the borrower meets or misses agreed sustainability targets. The money can be used for any purpose.

Example. Leonardo's €2.4bn ESG-linked revolving credit facility (2021).

The week in defence finance, read from the filings.

Deals, terms and the clauses behind them, for the people financing primes, mid-tiers and new defence technology. By Randeep Bubbra.

Working on a financing like this? Book 20 minutes with Randeep to see how it compares.