Standard Chartered leads MISC’s US$527m sustainable loan facility
It has a term of 11-years.
MISC Berhad, through its Singapore-based subsidiaries, has entered into a US$527m syndicated loan facility, for the financing of the six very large ethane carriers (VLECs).
Standard Chartered served as the structuring bank, sustainability coordinator, and hedge coordinator.
The Korea Development Bank, Sumitomo Mitsui Banking Corporation, Labuan Branch, DBS Bank, Export-Import Bank of Malaysia, MUFG Bank Singapore, as well as an undisclosed lender acted as mandated lead arrangers.
The facility is an 11-year sustainable-linked non-recourse term loan, and is MISC’s debut sustainability-linked loan (SLL). It is structured to align with its long-term business strategy and sustainability aspirations.