"We found Redbridge’s experience and familiarity with revolving credit facilities and sustainability linked products to be very valuable in completing this transaction"

John Crain
Vice President of Treasury

Engagement overview

  • Provided guidance on conversion of the company’s existing revolver into a sustainability-linked revolver
  • Reviewed amendment terms in the context of a substitution of borrowers and extension of maturity


  • Integrate ESG criteria to achieve a potential pricing benefit
  • Structure key performance indicators (“KPI’s”) in line with company’s strategic ESG plan
  • Close amendment within 4-6 weeks


  • Revolver amendment successfully closed in ~6 weeks with $300M borrowing base and maturity extension to 4 years
  • Incorporated two environmental KPI’s and one social KPI
  • Further demonstrated the company’s commitment to ESG principles to banks and investors


  • Review the company’s current sustainability goals and reporting
  • Negotiate KPI’s with Lead Sustainability Structuring Agent
  • Develop presentation for banks
  • Coordinate drafting of sustainability aspects with company’s legal counsel and Lead Sustainability Structuring agent

Value added by Redbridge

  • Improved Terms & Conditions: advised during negotiation of sustainability pricing structure and required KPI levels, and reviewed amendment terms
  • Coordinated between all parties: banks, legal and internal sustainability and finance teams
  • Ensured that a tight timetable was met
  • Clear communication to the banks, leading to faster closing and fewer questions
  • Served as independent sounding board to the company
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