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MOSCOW (Reuters) – Russian petrochemical company Sibur has taken out a loan where interest rates are pegged to environmental targets, a move that could help pave the way for a potential initial public offering (IPO), a company’s senior manager said on Wednesday.

Sibur said earlier on Wednesday that it had obtained a $50 million loan from UniCredit with an interest rate that is linked to its sustainability performance, becoming the first Russian petrochemical company to do so.

Peter O’Brien, a member of Sibur’s management board, said in emailed comments that the predominant share of available financing tools will be linked to ESG (environmental, social and corporate governance) performance in next 3 to 5 years.

Sibur has been considering an IPO for years. The size of a potential offering has previously been estimated at up to $3 billion.

“If and when the shareholders of Sibur decide to proceed with an IPO, our ESG-linked financing initiatives, agreements (and performance vs the required metrics in these agreements) will further enhance our ESG profile and credibility,” O’Brien said.

“This is important to an increasing range of investors (providers of all types of capital).”