LATAM Airlines Group signed the first “Sustainability-Linked Loan” in its history for a total of US$300 million, thus becoming the only airline in South America to have carried out a financial operation of the kind so far.
The agreement signed with Credit Agricole Corporate & Investment Banking and BNP Paribas corresponds to a revolving credit line that allows LATAM to access additional long-term financing under special conditions in its interest rates if a series of sustainability goals are met.
“This is our first financial product associated with sustainability and we see it as a first step to continue exploring other similar instruments in the future, such as sustainability-linked bonds. This milestone not only reinforces the commitment to being a more sustainable group, hand in hand with the strategy and actions focused on climate change, circular economy, and shared value, but also allows LATAM to be a pioneer in promoting sustainability-related finance in the aviation sector in the region,” said Andrés del Valle, VP Corporate Finance of LATAM Airlines Group.
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