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IMTT announces sustainability-linked loan facility

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Molly Cooper

Journalist at Tank Storage Magazine.

Handler and storage of bulk liquid products, IMTT has announced that ITT Holdings has successfullyStacks of coins. amended its existing revolving credit facility to include incentive pricing terms related to achieving various sustainability performance targets.

The facility represents the company’s inaugural sustainability-linked loan and is issued under IMTT’s recently developed sustainability linked issuance framework.

The framework outlines key performance indicators related to environmental and social factors including:

• The percentage of new capital expenditures related to increasing IMTT’s ability to store and handle
• Supplier diversity

Carlin Conner, chairman and CEO of IMTT, says: ‘We are reshaping our portfolio so that over half of IMTT’s revenue in 2023 will be generated from the handling of non-petroleum products, such as renewable diesel feedstocks, renewable diesel, vegetable and tropical oils, and chemicals. Our Greener and Cleaner strategy is working, and we anticipate continuing to grow our non-petroleum share of revenue over the next several years through deployment of capital for new projects supporting the energy transition.’

 

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