Balfour Beatty converts credit facility

British builder Balfour Beatty on Wednesday said it had converted its £375m revolving credit facility to a sustainability-linked loan.

Under the terms of the loan, the company said it would deliver improvement in three areas: carbon emissions, social value generation, and an independent environmental, social & governance rating.

The London-based construction company said performance would be monitored during the lifetime of the credit facility, which has been extended to to October 2024, and depending on the outcomes achieved, a credit margin reduction or increase would apply.