Continue reading this on our app for a better experience

Open in App
Home News Sustainability

Banyan Tree Holdings secures first sustainability-linked loan facility worth $70 mil

Felicia Tan
Felicia Tan • 2 min read
Banyan Tree Holdings secures first sustainability-linked loan facility worth $70 mil
Banyan Tree's president and CEO Eddy See. Photo: Albert Chua/The Edge Singapore
Font Resizer
Share to Whatsapp
Share to Facebook
Share to LinkedIn
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

Banyan Tree Holdings and Maybank Singapore have collaborated on Banyan Tree’s first sustainability-linked senior unsecured syndicated term loan facility.

Maybank, the sole mandated lead arranger, underwriter, bookrunner and sustainability coordinator, spearheaded the facility, which amounts to $70 million.

Bank of India (Singapore Branch) and Hua Nan Commercial Bank, Ltd. (Singapore Branch) are the lead arrangers.

“Our banking relationship with Banyan Group spans over two decades. Notably in 2020 during the pandemic, we successfully completed a convertible bond exercise and extended a bridging loan. It is a testament to the strength of our partnership,” says Gregory Seow, head of global banking at Maybank Singapore.

“In today’s dynamic marketplace with higher-for-longer interest rates, we recognise that businesses require timely, flexible and customised solutions to navigate challenges and capitalise on opportunities. As a trusted financial partner, Maybank's goal is to contribute to the global success story of Banyan Group, a highly regarded leader in the hospitality industry, and to support efforts for achieving its sustainability roadmap,” he adds.

Eddy See, president and CEO of Banyan Tree Holdings B58 -

, says, “Our group’s financial results for FY2023 have shown our recovery from the pandemic's impact. As we remain committed to advancing responsible tourism and supporting the industry’s decarbonisation pathway, our partnership with Maybank for our first sustainability-linked syndicated term loan facility will bolster these efforts.”

See also: Olam's ofi announces new 2030 targets and action plans for resilient ingredient supply chains

Maybank has mobilised RM68 billion ($19 billion) in sustainable finance across the group from 2021 to 2023, on track to achieve its target of RM80 billion by 2025.

As at 2.58pm, shares in Banyan Tree are trading 1 cent lower or 2.56% down at 38 cents.

Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
© 2024 The Edge Publishing Pte Ltd. All rights reserved.