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Wholesale Banking

ING in largest-ever sustainability linked loan

ING has acted as joint sustainability coordinator together with Santander in the largest sustainability-linked revolving credit facility (RCF) ever issued.


The $10.1 billion RCF for Belgian-based multinational drinks and brewing company Anheuser-Busch InBev (AB InBev) is provided by a consortium of 26 leading global financial institutions.

In addition to being the largest sustainability-linked loan (SLL) ever, it is also the first for a publicly listed company in the alcohol and beverage sector. The milestone facility has a five-year term and includes a pricing mechanism that incentivises improvement in four key performance areas that are aligned with AB InBev’s sustainability goals:

  • Further improving water efficiency at AB InBev’s breweries globally
  • Increasing PET recycled content in PET primary packaging
  • Sourcing purchased electricity from renewable sources as outlined in the RE100 commitment
  • Reducing greenhouse gas emissions as part of the science-based Climate Action Goal

“This major sustainability-linked loan is an important milestone for both AB InBev and the beverage sector as a whole,” said ING CEO Steven van Rijswijk in response to the announcement of the deal.

“AB InBev has demonstrated a clear ambition level by incorporating a broad set of material sustainability targets into this core lending facility. I'm proud that ING is supporting AB InBev toward their goals with this sustainable financing structure and at the same time implementing our strategy to help our clients to address climate risks and steer towards a circular economy.”