Sembcorp gets $1.2b sustainability-linked loan facility

The green loan is pegged to Singapore Overnight Rate Average.

Sembcorp Financial Services Limited secured a $1.2b sustainability-linked loan facility, which is the first and largest Singapore Overnight Rate Average (SORA) based loan for an energy company in Southeast Asia, Sembcorp Industries, bared.

The five-year facility will be used for general corporate purposes and financing or refinancing Sembcorp’s renewable energy and sustainable projects.

It will be subject to margin adjustments linked to pre-agreed Sustainability Performance Targets on Sembcorp’s greenhouse gas emissions intensity and gross installed renewable energy capacity, which complies with the Sembcorp Sustainable Financing Framework.

Sembcorp said the facility is arranged by Australia and New Zealand Banking Group Limited, DBS Bank Limited and Oversea-Chinese Banking Corporation Limited, where each are lead arranger and bookrunner. 

Australia and New Zealand Banking Group Limited is the lead sustainability coordinator and DBS Bank Ltd. and Oversea-Chinese Banking Corporation Limited are designated as the joint sustainability coordinators.

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