UPL Limited and its subsidiary UPL Corporation Limited complete amendment and restatement of its outstanding US$700 million term loan facilities and up to US$750 million term loan facility

Client(s) UPL Limited

Jones Day represented UPL Limited and UPL Corporation Limited, a subsidiary of UPL Limited, in connection with the amendment and restatement of a (1) US$700 million sustainability linked loan facilities agreement ("700M SLL") entered into by UPL Corporation Limited, as borrower, with Coöperatieve Rabobank U.A., Hong Kong Branch, the Hongkong and Shanghai Banking Corporation Limited, Intesa Sanpaolo S.P.A Singapore Branch, MUFG Bank, Ltd., and Societe Generale, Hong Kong Branch as mandated lead arrangers, underwriters, and bookrunners; and (2) US$750 million sustainability linked loan facility agreement ("750M SLL") entered into by UPL Corporation Limited, as borrower, with MUFG Bank, Ltd. and Coöperatieve Rabobank U.A., Hong Kong Branch as mandated lead arrangers, underwriters, and bookrunners.

The amendments to the facilities were necessitated by a corporate restructuring of the UPL Group to better align different business units and required renegotiation of key operating and financial covenants.