May 29, 2020
Cadwalader has advised Standard Chartered PLC in its partnership with one of the largest private-markets investment managers to complete one of the world’s first sustainable use of proceeds subscription finance facility.
Funds will be drawn by the manager and will be used to bridge investments into mid- to large-cap companies that align with the United Nations Sustainable Development Goals (SDGs), such as combating climate change, supporting financial inclusion, and tackling the lack of universal access to health care and education.
Standard Chartered, acting as sole sustainability coordinator for the facility, created a stringent list of criteria that each funded project must meet. Standard Chartered also is requiring ongoing reporting and monitoring of each investment to ensure the goals of the facility are upheld. Enlisting the help of Cadwalader’s Fund Finance Group to structure the deal, the facility is set to have a term of at least one year and is organized as an umbrella sustainable-secured capital call facility.
The Cadwalader team was led by Finance partner Samantha Hutchinson and senior attorney Amrita Maini.