Vigeo Eiris’ ESG scores used for JetBlue Airways’ Sustainability Linked Loan – the first in the aviation industry
This $550 million sustainability-linked revolving credit facility (RCF) was signed to amend its existing senior secured RCF with BNP Paribas acting as Sustainability Structuring Agent.
According to JetBlue, the operation will support Jet Blue’s strategic initiatives to reduce its carbon footprint and maintain strong community relations.
As the economic conditions of the loan are linked to the company’s ESG score, Vigeo Eiris evaluated the company’s ESG performance and will continue to do so every year. This is the first sustainability linked loan in the aviation industry.
Vigeo Eiris has participated to sustainability-linked financing for more than 20 corporates in Europe, Americas and Asia, either to provide borrowers with their annual ESG score (mechanisms linked to an ESG score, like for JetBlue) or as second-party opinion provider to assess the relevance of the KPIs (KPI-linked mechanisms).
JetBlue Airways is a U.S. airline carrying customers to nearly 100 cities in the U.S., Caribbean, and Latin America.