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VIDEO · 17 JULY 2023

The Pros And Cons Of Sleeping SLLs (Video)

Torys
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Sustainability-linked loans have surged in popularity over the past few years. Known as SLLs, these are loans where an economic outcome...

CanadaFinance and Banking
Janelle Weed
Janelle Weed
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Video transcript

Amanda Balasubramanian (00:05): Sustainability-linked loans have surged in popularity over the past few years. Known as SLLs, these are loans where an economic outcome, such as a reduction in interest or fees, is linked to the borrower's performance of meaningful sustainability objectives. Against this backdrop, we're seeing the growth of so-called sleeping sustainability-linked loans. A sleeping SLL is essentially a conventional loan agreement that contains provisions, which allow the borrower to set key performance indicators and sustainability performance targets after the closing date. They're referred to as "sleeping" because the sustainability aspect of the loan is delayed and activated at a later date. I'm Amanda Balasubramanian, co-head of the debt finance practice at Torys, and I'm here with my partner, Jon Wiener, from our New York office, to discuss the pros and cons of sleeping SLLs. Jon, why is it that we're seeing sleeping SLLs in

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