UPL swaps USD 700 Mn acquisition loan with a Sustainability loan

UPL is on a mission to reimagine sustainability across everything it does - developing and distributing solutions that secure our future whilst safeguarding the environment. It is UPL's firm belief that agriculture is an underappreciated resource and is an integral part of the solution to the climate crisis. The swapping of USD 1.45 billion acquisition loan to SLL with an opportunity to further reduce the interest cost is an example of our focus on sustainability and ESG providing a cost advantage.

In 2021, the company was ranked as the highest performing top tier, global crop-protection company amongst its peers by Sustainalytics for the second year running. UPL also recorded strong performances in the most recent Dow Jones Sustainability Index (61% improvement on 2018 score) and FTSE Russell (68% higher than industry average).

Jai Shroff, Global Chief Executive Officer of UPL Limited, said

"We are delighted to raise this second tranche of Sustainability linked facility which is not only a reflection of UPL's sustainability performance but also provides us an opportunity to engage with new a set of investors. We are transforming our business from products to a solutions business through our technology platforms – Natural Plant Product (NPP), Nurture.farm and the wide portfolio of differentiated and bio-solution products, and our diverse and expansive product pipeline. Taken together, these agricultural solutions can significantly reduce carbon emissions, mitigate the impact of global warming, and deliver shared prosperity for our people and our planet."

Anand Vora, Global Chief Financial Officer at UPL, said

"UPL is proud to be one of India's first companies to draw a sustainability linked loan and the largest by an Indian Corporate to date. The second tranche was driven by our constant focus on balance sheet management, reduction of interest costs and continued focus on building a sustainable and profitable business."  

About UPL 

UPL Ltd. (NSE: UPL & BSE: 512070) is a global provider of sustainable agriculture products & solutions, with annual revenue exceeding USD5 billion. We are a purpose-led company. Through OpenAg, UPL is focused on facilitating progress for the entire agricultural value chain. We are building a network that redefines the way an entire industry thinks and works – open to fresh ideas, innovative ways and new answers as we strive towards our mission to make every single food product more sustainable. As one of the largest agriculture solutions companies worldwide, our robust portfolio consists of biologicals and traditional crop protection solutions with more than 13,600 registrations. We are present in more than 130 countries, represented by more than 10,000 colleagues globally. For more information about our integrated portfolio of solutions across the food value chain including seeds, post-harvest, as well as physical and digital services, please visit upl-ltd.com.

For further details, please contact:

Investor Relations Contact:
Radhika Arora
Head of Investor Relations
UPL Ltd. 
[email protected]

Mandar Kapse
Senior Analyst: Investor Relations
UPL Ltd. 
[email protected]