Ann: Sustainability Linked Loan, page-2

On the positive side, financing is coming through. Also, getting a sustainability linked loan (SLL) provides a discounted rate - probably in the 4% ballpark considering the 10-yr is trading at 3.4%. For a comparison, Wesfarmers last year got a 7-year $650m SLL at +0.5% to the 10-yr.

On the negative side, this is a higher weighted average cost of capital than previous arrangements. Unfortunately, interest rates have gone up over time!