Singapore yard group Seatrium raises its secured green trade finance and sustainability-linked loans to over SGD 2bn ($1.5bn) following the receipt of its latest loan.
Late last week the Singapore-listed company secured a SGD 500m committed revolving credit loan facility (RCF) arranged by DBS Bank, HSBC and Standard Chartered Bank.
“As part of the group’s proactive capital management, the SGD 500m committed revolver will support our business operations and other strategic business needs,” Seatrium acting group finance director Paul Tan Lars-Christian Svensen.
“With this latest round of successful refinancing, we have secured over SGD 2bn in sustainable and green financing this year alone.
“We are encouraged by the strong support of our banks to our ongoing efforts in pursuing sustainability in our business operations for long-term stakeholder value creation and driving energy transition in our industry.”
Lim Wee Seng, group head of energy, renewables and infrastructure, institutional banking group for DBS Bank, said: “As a leading financial institution in Asia, we are committed to helping companies compete on the global stage and strengthening Singapore’s position as a key hub for business.
“The maritime industry is essential to the real economy, yet also one of several hard-to-abate sectors. Seatrium is a pioneer for its commitment to sustainability and to overcome the challenges associated with the energy transition.
“As a purpose-driven bank, DBS is proud to be a long-time partner in Seatrium’s sustainability journey, having provided the group’s first sustainability-linked loan in 2021, and to continue working with the sector to create a sustainable, low-carbon future.”
HSBC Singapore managing director and head of large local corporates, global banking, Lim Jit Min, said: “This new facility will enable Seatrium to expand its business further, especially as opportunities in the area of energy transition gathers momentum.”
Seatrium said it is committed to achieving 40% of its net orderbook from renewables and cleaner/green solutions and reducing its greenhouse gas emissions by 40% by 2030 under its sustainability vision 2030.
