Displaying items by tag: Bank of Nova Scotia

US: Argos USA has obtained a US$750m loan for the financing of its working capital and capital expenditure and refinancing of its debt. The loan is linked to environmental, social and governance (ESG) metrics. Bank of Nova Scotia, BNP Paribas, JP Morgan Chase Bank, SMBC and Bank of New York Mellon lent the funds, assisted by Cuatrecasas.

Parent company Cementos Argos said "With this credit agreement, around 44% of Cementos Argos' consolidated debt will be linked to ESG indicators, bringing it closer to the 50% target for 2022 previously announced to the market, and thus reaffirming the company's commitment to meeting ambitious goals in terms of sustainable growth."

Colombia: Argos North America has taken out a US$300m loan where the interest rate is linked to CO₂ emission reduction indicators and the increase in the percentage of women in leadership positions. It will be used to prepay an existing syndicated loan. The loan has been taken out from BNP Paribas Securities, Natixis, Sumitomo Mitsui Banking Corporation and the Bank of Nova Scotia. This loan is the first linked to environmental, social and corporate governance performance that Argos has signed with international banks.