Singtel launches sustainability linked mortgage, value $750m

That is the most important SG-dollar denominated sustainability-linked mortgage within the nation.

The Singtel Group, by means of wholly-owned subsidiary Singtel Group Treasury Pte. Ltd. launched its first sustainability-linked revolving credit score facility of $750m, the most important Singapore-dollar denominated sustainability-linked mortgage in Singapore thus far.

The launch marks the Group’s foray into sustainable financing beneath its new programme known as Olives, that’s linked to sustainability targets. Offered by DBS, OCBC and UOB, the three-year mortgage options rate of interest reductions pegged to predetermined environmental, social and governance (ESG) targets in areas resembling local weather danger, carbon administration and office well being and security metrics. The mortgage is assured by Singtel and will probably be used for basic company functions.

“Beneath Olives, we are going to probably launch different ESG-related loans and inexperienced bonds in future. Having lengthy built-in sustainability throughout our enterprise, we’re taking the essential subsequent step of extending this to our financing technique as we proceed to carry ourselves accountable for making a constructive impression on society,” mentioned Singtel Group chief monetary officer Arthur Lang.

To advance its aim of sustainable progress, from 2020, long-term incentive plans for all Singtel Group high administration additionally carry ESG-related targets.

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