The funds which Tata Communications aims to raise under the framework - around $1 billion - would be used for refinancing existing loans as well as structuring fresh loans, the people said. Adherence to the SSL targets typically brings a pricing benefit, in the form of a lower rate of interest. Missing the targets results in a higher interest.
Bank of America advises Tata Communications on a $1 billion fund framework incorporating ESG standards. The funds will refinance existing loans, structure fresh loans, and offer pricing benefits tied to environmental, social, and governance targets.