Listed liquor maker Emperador Inc. is raising €300 million, or more than P20 billion from a sustainability-linked loan (SLL) to refinance an existing debt of its wholly owned subsidiary.

In a regulatory filing on Tuesday, the company said that, along with Emperador Distillers, Inc., it will guarantee the new €300-million facility obtained by Emperador International Ltd. from a group of lenders led by Banco Bilbao Vizcaya Argentaria, S.A. (Singapore Branch), Bank of China (Hong Kong) Limited, and DBS Bank Ltd.

“We are happy to have this New Facility where we can have financial benefits, and at the same time strengthen our commitment to sustainability.

This SLL serves as a milestone for the company, and an encouragement to continue operating sustainably,” Emperador Chairman Winston Co said. 

Emperador said the new facility is structured as a SLL, the group’s first such financing and also the first for a local food and beverage company.

It is tied to two key performance indicators: reducing Scope 1 and 2 greenhouse gas emission intensity and increasing the use of renewable electricity across operations.

Proceeds from the loan will be used to refinance an existing loan of Emperador International Ltd., as the group continues investments to curb its carbon footprint, including renewable energy projects and energy-efficient systems across its global operations.