Seatrium Secures $500m Sustainability-Linked Loan
Estaleiro Jurong Aracruz (EJA), a wholly-owned subsidiary of Seatrium Limited (Seatrium), clinched a US$500m facility from Standard Chartered Bank (Singapore) Limited.
According to Seatrium, the facility includes an innovative sustainability-linked conversion option aligned to the Sustainability-Linked Loan Principles.
“This will support Seatrium in achieving its ESG targets over time through adjustments to the loan characteristics upon conversion,” Seatrium said in a bourse filing.
Seatrium is working towards achieving 40% of its net order book from renewables and cleaner/green solutions and reducing its greenhouse gas emissions by 40% by 2030.
Source: Singapore Business