Taipei Fubon Commercial Bank (台北富邦銀行) yesterday approved a three-year sustainability-linked loan (SLL) to audio electronics maker Merry Electronics Co (美律實業), the first such loan granted by a local bank.
However, the bank did not reveal the amount of the loan.
Foreign banks were the first to offer SLLs in Taiwan. DBS Bank Taiwan (星展銀行) provided NT$2 billion (US$70.66 million at the current exchange rate) of SLLs to AU Optronics Corp (友達光電) in 2019, followed by HSBC Bank (Taiwan) Ltd’s (匯豐台灣商銀) two SLLs totaling NT$450 million to Taya Group (大亞集團) and Sinbon Electronics Co (信邦電子) last year.
Like HSBC Taiwan and DBS Taiwan, Taipei
Westpac partners with G8 Education on a childcare industry first A$350M Sustainability linked loan miragenews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from miragenews.com Daily Mail and Mail on Sunday newspapers.
The global loan market trade bodies have updated the Green Loan Principles, broadening the guidelines on what counts as a green facility to account for the growing importance of social risk.
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The Financial Conduct Authority (FCA) has recently
reiterated that 2021 is the critical year for firms to
complete their transition away from
LIBOR .
1
LIBOR).
In this article, we discuss the current state of play and the
measures governments and institutions are taking to aid this
transition, including the development of overnight risk-free rates
(
RFRs), recommended transition milestones and
proposed legislative reform.
Development of RFRs
The European Central Bank commenced publishing the Euro Short
Term Rate on 2 October 2019, and since then RFRs for all LIBOR
Press release content from Business Wire. The AP news staff was not involved in its creation.
SMBC Launches Sustainability-Linked Loan for Overseas Japanese Customers
February 5, 2021 GMT
TOKYO (BUSINESS WIRE) Feb 5, 2021
Sumitomo Mitsui Banking Corporation (“SMBC”) (President and Group CEO: Makoto Takashima) announced today the launch of Sustainability-Linked Loan (“SLL”) financing for its overseas Japanese customer’s ESG (※1) and SDGs (※2) related activities.
The objective of SLLs is to promote and support environmentally and socially beneficial economic activities by linking corporate loan terms with a customer’s performance against mutually-agreed, sustainability performance targets (“SPTs”) consistent with a customer’s sustainability strategy. The objective of the SLL is to incentivize customers to improve their sustainability performance.