Tata Comm secures $250 mn loan from ANZ, EDC, DBS Bank; stock jumps 3%

On Thursday, shares of Tata Communications surged by 2.62 per cent at Rs 1,879.90 a piece on the BSE in intraday trade. This came after the company secured a five-year $250 million sustainability-linked loan (SLL) from ANZ, DBS Bank and Export Development Canada (EDC).

ANZ acted as the lead sustainability coordinator for the loan, while DBS Bank and EDC were the Joint Sustainability Coordinators. The transaction is the first SLL for Tata Communications under the company’s new SLL framework, the company said in an exchange filing.