MUMBAI, India—Birla Carbon has closed on a $750 million sustainability loan that will allow the global supplier of carbon black to refinance existing debt.
The loan closed Dec. 17.
"Sustainability and innovation are two of Birla Carbon's key pillars responsible for our leadership in the industry," said John Loudermilk, CEO. "Pursuing the goal of sustainable business growth, aligned with our Purpose (to Share the Strength), has brought immense synergies of shared aspirations with all our business partners and stakeholders."
The loan comes on the heels of Birla Carbon's launch of the Continua brand of Sustainable Carbonaceous Materials and its goal of net-zero carbon emissions by 2050.
"We are now better placed to give Birla Carbon a real competitive advantage in the years to come" Chief Financial Officer Surendra Goyal said. "Linking our borrowing programs to these pillars of growth sets us on a path that will double our success."