BEA Grants Wilmar $100M Sustainability Loan

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by KnowESG
KnowESG_BEA grants Wilmar $100M sustainability loan
Image courtesy of https://www.nordea.com/

The Bank of East Asia (BEA) and Wilmar International (Wilmar) joined forces again on a two-year, $100 million sustainability-linked loan (SLL). This is their second SLL together.

Wilmar can get a lower interest rate if they meet specific sustainability goals that cover environmental, social, and governance (ESG) areas.

These goals include both Wilmar's own targets and external benchmarks, such as staying on the Dow Jones Sustainability World Index (DJSI).

Wilmar has been on the DJSI World Index for three years in a row, since November 2021. This achievement shows their leadership in sustainable practices within the agribusiness sector.

Ms Oh Ah Guat, BEA Singapore Branch’s General Manager, said “We are pleased to be supporting Wilmar again with this sustainability-linked loan. This transaction underscores BEA’s broader commitment to supporting our key clients in navigating the sustainability journey and creating a positive impact on our society. We are proud to collaborate with Wilmar, whose sustainable business practices are broadly recognised.”

Mr Charles Loo, Wilmar’s Deputy Chief Operating Officer and Chief Financial Officer, said “Our partnership with BEA reinforces our commitment to growing our business sustainably and responsibly. Funds from this SLL facility will incentivise improvement in our ESG performance while expanding our financial resources. As a frontrunner of sustainability in the agribusiness sector, we strongly believe in mobilising capital in a way that leaves a positive and lasting impact on the communities where we operate, charting the course to a more sustainable future for all.

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Source: The Bank of East Asia

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