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Sembcorp Marine secures first SORA-based sustainability-linked loan for maritime industry from DBS

Felicia Tan
Felicia Tan3/4/2021 8:35 AM GMT+08  • 2 min read
Sembcorp Marine secures first SORA-based sustainability-linked loan for maritime industry from DBS
The loan features interest rate discounts linked to pre-determined ESG targets.
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Sembcorp Marine (SembMarine) has, on March 4, secured a sustainability-linked loan that references the Singapore Overnight Rate Average (SORA) from DBS Bank, making it a first in the maritime industry.

The loan was secured through SembMarine’s wholly-owned subsidiary, Sembcorp Marine Financial Services.

The $500 million facility has an interest rate that comprises two components: a compounded daily SORA rate calculated in arrears and an applicable margin.

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