The Wall Street Journal reported JetBlue Airways has closed a sustainability-linked loan with BNP Paribas, amending an existing $550 million senior secured revolving credit facility.
According to the Journal, the change now includes a sustainability-linked provision for JetBlue to align its strategic initiatives with its environmental, social and governance performance goals and objectives. BNP Paribas is acting as JetBlue’s sole sustainability structuring agent.
The sustainability-linked loan includes a pricing mechanism related to the applicable margin and commitment fee linked to JetBlue’s ESG score provided by Vigeo Eiris, an international provider of ESG research and services for investors and organizations.
JetBlue started to formally review its financial partners’ sustainability strategy and commitments in 2018, shifting business to financial partners with stronger ESG policies.
