Standard Chartered leads MISC’s US$527m sustainable loan facility

It has a term of 11-years.

MISC Berhad, through its Singapore-based subsidiaries, has entered into a US$527m syndicated loan facility, for the financing of the six very large ethane carriers (VLECs).

Standard Chartered served as the structuring bank, sustainability coordinator, and hedge coordinator.

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The Korea Development Bank, Sumitomo Mitsui Banking Corporation, Labuan Branch, DBS Bank, Export-Import Bank of Malaysia, MUFG Bank Singapore, as well as an undisclosed lender acted as mandated lead arrangers.

The facility is an 11-year sustainable-linked non-recourse term loan, and is MISC’s debut sustainability-linked loan (SLL). It is structured to align with its long-term business strategy and sustainability aspirations.