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NAB trims rate for ‘sustainable’ Port of Newcastle Save Share Port of Newcastle will pay lower interest under a half-billion dollar loan from National Australia Bank if it fulfils environmental and social commitments, which the bank says will lower the risk of lending to the company by helping to make it more sustainable. The deal is the first time an Australia seaport has taken out a sustainability-linked loan, which sets out behavioural metrics to deliver a reduced borrowing rate, and the first time Port of Newcastle has linked sustainability with financing. It comes as the major ...

2 Min Read SYDNEY, May 4 (Reuters) - Australia’s Port of Newcastle has signed a A$515 million ($398 million) loan with National Australia Bank (NAB) that links interest payments to non-mandatory social and environmental targets, the companies said. The world’s largest coal port will pay less if certain targets are met, including reducing its direct and indirect greenhouse gas emissions and screening all customers for modern slavery risks, they said in a joint statement. The loan also contains metrics focused on mental health first aid, diversity and inclusion, they said. The interest rate...

Australia's Port of Newcastle has signed a A$515 million ($398 million) loan with National Australia Bank (NAB) that links…

(Adds background, paragraph 7) SYDNEY, May 4 (Reuters) - Australia’s Port of Newcastle has signed a A$515 million ($398 million) loan with National Australia Bank (NAB) that links interest payments to non-mandatory social and environmental targets, the companies said. The world’s largest coal port will pay less if certain targets are met, including reducing its direct and indirect greenhouse gas emissions and screening all customers for modern slavery risks, they said in a joint statement. The loan also contains metrics focused on mental health first aid, diversity and inclusion, they sai...

How did the NAB (ASX:NAB) share price move today after landmark loan? Brooke Cooper | May 4, 2021 6:04pm | More on: National Australian Bank Ltd(ASX: NAB) shares were fairly flat in trading today, as news circled of the bank providing the world’s largest coal export terminal with a “sustainability-linked” loan. The NAB share price spent most of the day bouncing around in the red before closing just 0.07% higher at $27.25. Let’s take a closer look at the Port of Newcastle’s new $515 million loan and the conditions NAB has imposed upon it. Port of Newcastle’s loan    The loan, ...