UPL Limited obtains US$500 million sustainability-linked loan
Client(s) UPL Limited
In a first of its kind for an Indian company, Jones Day represented UPL Limited in a US$500 million sustainability-linked loan with a US$250 million greenshoe option, arranged by MUFG Bank, Ltd. and Cooperatieve Rabobank U.A. The proceeds will be used to refinance the current outstanding US$3 billion loan currently in place at its subsidiary, UPL Corporation Limited. The proceeds of the US$3 billion loan were utilized by UPL for its acquisition of Arysta LifeScience Inc.
Jones Day had previously advised UPL Limited on the original US$3 billion facility in connection with the acquisition of Arysta LifeScience Inc.