Alunorte – Alumina Do Norte Do Brasil S.A.’s $200 Million Sustainability-Linked Credit Facility

In UK Slaughter and May, advised on the matter.

Slaughter and May advised Alunorte – Alumina Do Norte Do Brasil S.A. with a team including Susan Hughes (Picture – Finance), Samay Shah (Finance).

Alunorte – Alumina Do Norte Do Brasil S.A. (“Alunorte”), on its new $200 million 7-year term loan facility agreement. The new $200 million facility aims to support Alunorte’s fuel switch project which involves the replacement of heavy fuel oil with natural gas at Alunorte’s alumina refinery located in Barcarena, State of Para, Brazil. In line with Hydro´s commitment towards sustainability, the facility also includes a sustainability-linked margin ratchet based on meeting certain key performance indicators relating to reductions in the level of CO2 emissions.

The facility agreement was coordinated by BNP Paribas S.A., with DNB Bank ASA as Facility Agent and BNP Paribas Securities Corp acting as Sustainability Coordinator. A group of six lenders make up the syndicate in total.

Slaughter and May’s team included Susan Hughes (Picture), Partner, Samay Shah, Partner, Jennifer Nice, Associate and Teigan Betteridge, Associate.

Involved fees earner: Teigan Betteridge – Slaughter and May; Susan Hughes – Slaughter and May; Jennifer Nice – Slaughter and May; Samay Shah – Slaughter and May;

Law Firms: Slaughter and May;

Clients: Alunorte – Alumina Do Norte Do Brasil S.A.;

Author: Giulia Di Palma