Industry: Oil & gas
A sustainability linked credit facility is a new type of arrangement in which financial institutions agree to reduce or increase the borrowing costs as sustainability and ESG targets are met or missed, determined through third-party sustainability performance measures. The use of a sustainability linked credit facility is another way companies are able to keep their businesses accountable and on-track to meeting and/or exceeding their environmental, social and governance targets.
Canadian Imperial Bank of Commerce (“CIBC”) acted as sole lead arranger and sole bookrunner.
Blake, Cassels & Graydon LLP acted as Canadian legal advisor to Enerplus Corporation with a team consisting of
Nick Tropak,
Cam Siempelkamp,
Daniel Jachna.
Vinson & Elkins LLP acted as U.S. legal advisor to Enerplus.
Norton Rose Fulbright Canada LLP acted for CIBC with a team that was led by
Rick Borden,
and which included
Marlow Gereluk,
Hailey Boutin.