尊龙凯时人生就是博

主页 > EN > News > All News

All News

COFCO International Signs $1.6 Billion Worth of Sustainability-linked Loan Deal Release Time : 2022-10-10
At its headquarters in Geneva in July 2022, COFCO International announced signing an agreement for a new $1.6 billion sustainability-linked revolving credit facility with 19 banks. This is COFCO International’s third sustainability-linked syndicated loan and brings the company’s total Sustainability-linked loan commitments to $2.3 billion.

Lenders of this deal include banks from China, Europe, Australia, Japan, Singapore and the United States. The lenders have agreed to provide financial incentives in the form of lower interest rates for COFCO International to achieve pre-agreed sustainability targets covering the traceability and socio-environmental screening of its Brazil soy supplies and Sustainalytics’ ESG Management Score. Each sustainability target will be audited or assessed annually by an independent third party. All margin savings will be used to fund the company’s own sustainability, traceability, or social and environmental improvement projects.

COFCO International signed its first sustainability-linked loan in July 2019, which was the largest sustainability-linked loan for a commodity trader, and a second sustainability-linked loan in September 2021. The new facility consists of a 364-day tranche and a 3-year tranche and follows guidelines based on Loan Market Association Sustainability Linked Loan Principles.

<< Previous Next >>
>More
sitemap网站地图