U-Ming secures its First Sustainability-Linked Loan
U-Ming Marine Transport Corporation (“U-Ming”) (TSEC code: 2606), Taiwan’s largest publicly listed bulk carrier company, has secured its first Sustainability-Linked Loan (“SLL”) of USD45 million with E.SUN Commercial Bank, a testimony on its long-standing commitment and accountability on sustainability.
To secure the SSL, U-Ming underwent a rigorous due-diligence process that evaluated the company’s financial strength as well as ESG achievements. The SSL also incorporates an incentive scheme linked to pre-determined Environmental, Social and Governance (“ESG”) targets, where U-Ming will enjoy a discount on interest rates and save borrowing cost once these targets are achieved. The accomplishment of these targets will be verified by an independent third party.
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Anheuser-Busch InBev SA/NV, maker of beer brands Budweiser and Stella Artois, has signed a $10.1 billion debt facility that costs more to service if the company falls short on a set of sustainability targets. It s the largest ever.
Thai Union Group has secured its first sustainability-linked syndicated loan amounting to US$400 million in Thailand and Japan. The loan is linked to three KPIs around sustainability, with the achievement of the objectives leading to a reduction in interest rates.
Global commodity trader Trafigura is set to secure a new sustainability-linked revolving credit facility (RCF) as it works to cut its carbon footprint and boost renewables, though the firm says it has no plans to shift away from oil in the coming years.
Having published its first ever emissions reduction target in a responsibility report last month – which will see the commodity trader work to cut its own direct and indirect emissions by 30% in the next three years – Trafigura is preparing to sign a sustainability-linked RCF in March.
In an interview with
GTR, Trafigura’s Laurent Christophe, group treasurer at the Swiss-based trader, says the company will ink a new sustainability-linked multi-currency RCF in late March with two separate tranches.