Seatrium unit bags US$500m facility with a sustainability-linked conversion option

Standard Chartered Bank issued the facility.

Estaleiro Jurong Aracruz (EJA), a wholly-owned subsidiary of  Seatrium Limited (Seatrium), clinched a US$500m facility from Standard Chartered Bank (Singapore) Limited.

According to Seatrium, the facility includes an innovative sustainability-linked conversion option aligned to the Sustainability-Linked Loan Principles.

“This will support Seatrium in achieving its ESG targets over time through adjustments to the loan characteristics upon conversion,” Seatrium said in a bourse filing.

Seatrium is working towards achieving 40% of its net order book from renewables and cleaner/ green solutions and reducing its greenhouse gas emissions by 40% by 2030.