UltraTech Cement has raised USD 500 million through a sustainability-linked financing with participation from six banks. The transaction marks a second for the company, subsequent to its inaugural sustainability-linked bond issuance in 2021. It signifies UltraTech’s ongoing commitment to align its funding strategy with its sustainability and ESG goals. 

Sumitomo Mitsui Banking Corporation (SMBC), State Bank of India (SBI), BNP Paribas, DBS, MUFG and Mizuho helped the cement major in completeting the transaction. Among all, SMBC acted as the sole sustainability coordinator for this transaction and served as the sole advisor on the financing framework.

Recently, Aditya Birla Group-owned UltraTech Cement approved the purchase of 32.72 percent equity stake of the promoters and their associates in India Cements. This would make UltraTech Cement the majority shareholder in the south based cement manufacturer, holding 55 percent of the total shares. The cement major has a consolidated production capacity of 154.86 MTPA of grey cement.