Dechert Advises Ares Management in Largest Sustainability-Linked Private Credit Financing to Date  

August 16, 2021

Dechert has advised funds managed by the European Direct Lending strategy of Ares Management Corporation (“Ares”), a leading global alternative investment manager, on the provision of £1 billion of sustainability-linked available debt facilities to the RSK Group in the largest sustainability-linked private credit financing to date. RSK is the UK’s largest privately-owned multi-disciplinary environmental business. The transaction will be used to refinance RSK’s existing credit facilities and support its continued growth in the market.

RSK’s new debt facilities will be subject to an annual margin review to monitor its sustainability targets aimed at the reduction of carbon intensity and continual improvement to health and safety management and ethics. In addition, the company has committed to donating a minimum of 50% of interest savings, anticipated to be in excess of £500,000 per year, toward sustainability-focused initiatives or charitable causes.

The Dechert team advising Ares include leveraged finance partner Philip Butler with associates Sarah Moffat and Edward Bartlett.

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Dechert is a leading global law firm with 22 offices around the world. We advise on matters and transactions of the greatest complexity, bringing energy, creativity and efficient management of legal issues to deliver commercial and practical advice for clients.

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