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.
For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
