Shipowner NYK Line has sealed Japan's first loan linked to environmental sustainability.
The Japanese shipping giant said it is borrowing JPY 50bn ($456m) from a syndicate led by MUFG Bank.
The deal allows for conditions such as the loan’s interest rate to be adjusted according to the borrower’s corporate social responsibility (CSR) performance.
The five-year revolver is targeted at green initiatives and also involves cash from Norinchukin Bank, Mizuho Bank and Sumitomo Mitsui Banking Corp.
