Pay away
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Borrowings documentation - pricing - sustainability - sustainability linked loans - sustainability margin adjustments.
In the context of sustainability linked loans (SLLs) and related sustainability margin adjustments, "pay away" is a structure for dealing with the benefit of a margin reduction or uplift.
Under a pay away structure, the benefit arising is paid towards a charitable cause, or directed to a sustainable objective.
(Source - Slaughter and May ACT Borrower's Guide, p47.)
See also
- Margin
- Margin grid
- Stepped margin
- Sustainability
- Sustainability linked loan (SLL)
- Sustainability-Linked Loan Principles (SLLP)
- Sustainability Margin Adjustment
- Sustainability performance target (SPT)
