ANZ, DBS Bank & EDC close maiden sustainability loan for Tata Communications

India.20 Jun 2024

The three lenders will jointly finance a five-year USD 250 million facility under Tata Communications' sustainability-linked loan framework.

India, 20 Jun 2024 - Tata Communications has secured a five-year USD250 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. Through the framework, a first of its kind in the sector in India, Tata Communications intends to link its funding with key objectives such as carbon emission reduction targets (non-financial covenants) that are core and material for the company’s long-term sustainability performance.

The interest rate margin of the loan will be adjusted up or down in accordance with the progress that Tata Communications will achieve on its carbon emission reduction targets. Such short-term targets, creating a link between the cost of banking facilities and progress achieved on key environmental milestones, are consistent with the company’s longer-term ambition to be Net Zero across its global operations by 2035.

Stella Saris Chow, Head of Sustainable Finance, International, ANZ said: “ANZ is pleased to have played a lead role in Tata Communications’ maiden SLL. We see significant opportunities for other companies to align their financing with their environmental commitments and believe the facility will pave the way for other borrowers in India and across Asia to set robust sustainability performance targets. ANZ has a strong presence in Asia and we are well-positioned to support our clients to reduce emissions and transition to net zero.” 

Kabir Ahmed Shakir, CFO, Tata Communications said: “The pioneering transaction is a landmark step towards supporting our belief in sustainability as a value creator. We intend to drive positive change not just within our own operations but also play a leading role in sustainable finance. We are confident that this innovative financing model will pave the way for a more resilient, more responsible future for businesses of all sizes and locations.”

Rajat Verma, Managing Director and Head, Institutional Banking Group, DBS Bank India said: “As a purpose-driven bank, DBS is proud to have been part of setting an industry benchmark as the Joint Sustainability Coordinator for the first Sustainability Linked Loan in this sector. It is a privilege to support Tata Communications’ sustainable financing framework, which will accelerate the company’s carbon mitigation journey towards its net-zero goals. Given our deep Asian network and trusted expertise in customising responsible banking solutions across sectors, DBS Bank looks forward to enabling companies to adopt practical decarbonisation strategies to collectively shape a more sustainable future.”

Todd Winterhalt, Senior-Vice President of International Markets and Head of Communications and Public Affairs, EDC said: “As Canada’s export credit agency, EDC stands ready to support the transition to a more sustainable world and is delighted to partner with Tata Communications with their first sustainability-linked loan, amongst the first of its kind in the Indo-Pacific region. Our approach to deploy capital for sustainable activities is a key element of how we’re helping our customers achieve their climate objectives as they work towards achieving net zero emissions.”




About ANZ

ANZ’s Sustainable Finance business is recognised as a market leader across Australia, New Zealand and Asia Pacific, and has participated in 111 sustainable finance deals with a total deal size of $144 billion in FY23. ANZ is the largest bank servicing institutional and large corporate customers in its home markets of Australia and New Zealand, where it ranks #1 for overall market-and lead-bank penetration (according to Peter Lee Associates). In Asia, ANZ has ranked #1 for relationship quality for the past seven years (according to Greenwich Associates).

About DBS Bank

DBS is a leading financial services group in Asia with a presence in 19 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia, and South Asia. The bank's "AA-" and "Aa1" credit ratings are among the highest in the world. Recognised for its global leadership, DBS has been named “World’s Best Bank” by Global Finance, “World’s Best Bank” by Euromoney, and “Global Bank of the Year” by The Banker. In addition, DBS has been accorded the “Safest Bank in Asia” award by Global Finance for 15 consecutive years from 2009 to 2023. In line with its focus on responsible banking, DBS was named the Best Bank for Sustainable Finance – India by Global Finance in 2024. DBS is committed to building lasting relationships with customers as it banks the Asian way and understands the intricacies of doing business in the region’s most dynamic markets. With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. For more information, please visit

About EDC

Export Development Canada (EDC) is a financial Crown corporation dedicated to helping Canadian businesses make an impact at home and abroad. EDC has the financial products and knowledge Canadian companies need to confidently enter new markets, reduce financial risk and grow their business as they go from local to global. Together, EDC and Canadian companies are building a more prosperous, stronger, and sustainable economy for all Canadians. For more information and to learn how we can help your company, call us at 1-800-229-0575 or visit

About Tata Communications

A part of the Tata Group, Tata Communications (NSE: TATACOMM; BSE: 500483) is a global digital ecosystem enabler powering today’s fast-growing digital economy in more than 190 countries and territories. Leading with trust, it enables digital transformation of enterprises globally with collaboration and connected solutions, core and next gen connectivity, cloud hosting and security solutions and media services. 300 of the Fortune 500 companies are its customers and the company connects businesses to 80% of the world’s cloud giants. For more information, please visit