\n<\/p>\n
SINGAPORE\u00a0–\u00a0Media OutReach<\/a>\u00a0-
The loan, issued to Apical’s units AAA
Andy Cairns, Head of\u00a0Global Corporate Finance of First Abu Dhabi
The targets are based on Apical’s commitment
Apical’s Executive Director, Pratheepan
The loan facilities received overwhelming
SINGAPORE\u00a0–\u00a0Media OutReach\u00a0-
6 September 2021 – Apical Group, a
leading agri-business processor of palm oil and member of the RGE group of
companies, has secured a US$750 million sustainability-linked loan from a
syndicate of lenders. This is a first for Apical, and among only a few known in
the palm oil industry, where borrowing is …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[60],"tags":[],"_links":{"self":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts\/17349"}],"collection":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/comments?post=17349"}],"version-history":[{"count":0,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts\/17349\/revisions"}],"wp:attachment":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/media?parent=17349"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/categories?post=17349"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/tags?post=17349"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\n6 September 2021 – Apical Group, a
\nleading agri-business processor of palm oil and member of the RGE group of
\ncompanies, has secured a US$750 million sustainability-linked loan from a
\nsyndicate of lenders. This is a first for Apical, and among only a few known in
\nthe palm oil industry, where borrowing is tied to sustainability targets and
\nperformance. <\/p>\n
\n
<\/p>\n
\nOils & Fats Pte Ltd and Apical Middle East, is structured as a two-year
\nrevolving credit and four-year term loan facilities. Under the facilities,
\nApical is committed to meeting improvement targets for a range of
\nenvironmental, social and governance (ESG) metrics, as assessed by
\nEnvironmental Resources Management, a London-headquartered global provider of
\nenvironmental, health, safety, risk and social issues consulting services. <\/p>\n
\n
<\/p>\n
\nBank, the Facility Agent, commented,\u00a0“We congratulate Apical on this
\nachievement. ESG is an increasing focus for borrowers and investors
\nglobally\u00a0and it\u00a0reflects very highly on Apical\u00a0that it is among
\nthe first Asia names, and companies in its industry sector, to embrace
\nthis.\u00a0I am confident that such forward-thinking\u00a0commitment to
\nachieving its sustainability goals will position Apical advantageously for the
\nfuture.”\u00a0<\/p>\n
\n
<\/p>\n
\nto ensure a sustainable supply chain. Performance against the pre-determined
\ntargets will be assessed on an annual basis for the loan period, and incentives
\nawarded accordingly. The loan
\nwill be used to finance working capital and capital expenditure requirements of
\nApical Group.\u00a0 <\/p>\n
\n
<\/p>\n
\nKarunagaran, said, “This is a milestone for Apical and a testament to the
\ncommitment and confidence we have in our ESG performance. The spirit of
\ncontinuous improvement is deeply rooted in our corporate culture and we are
\nmotivated to perform even better to deliver against the loan targets set.\u00a0 We are grateful for the enthusiasm of our
\nfinanciers and hope that our success will serve as a catalyst in further
\ndeveloping sustainability-linked financing in the sector.”<\/p>\n
\n
<\/p>\n
\ndemand with participation from 22 banks in nine countries. Among the Mandate
\nLead Arrangers and Bookrunners are E.Sun Commercial Bank, Ltd, First Abu Dhabi
\nBank, Mega International Commercial Bank Co., Ltd, MUFG Bank, Ltd, Bank
\nSinopac, and Taishin International Bank Co., Ltd. <\/p>\n<\/p><\/div>\n\n
Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"