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Product tanker unit of Singapore’s BW Group, Hafnia, has secured sustainability-linked financing maturing in early 2029. The Oslo-listed shipowner stated the revolving mortgage facility is value $303m via a syndicate of eight banks, which included BNP Paribas, Citibank, Danske Financial institution, DBS Financial institution, IYO Financial institution, Nordea Financial institution, Oversea-Chinese language Banking Company, and Normal Chartered Financial institution.
BNP Paribas served as the ability coordinator, DBS Financial institution because the sustainability coordinator, and Nordea assumed the function of mortgage facility agent.
The deal has been secured by a fleet of 9 chemical tankers and has an annual sustainability margin adjustment mechanism, with DNV offering the second-party opinion on key efficiency indicators equivalent to emissions-related and relative share of chemical cargoes carried.
Hafnia stated the milestone marked a “vital achievement”, notably within the context of its acquisition of chemical tankers final yr and that by securing this mortgage, the corporate “not solely reduces its funding prices but in addition enhances its monetary flexibility”.
“We respect the continued help from our banks and managed to attain a really aggressive pricing and financing construction. By means of this mortgage facility, we shall be cooperating in our efforts in direction of the decarbonisation of the delivery sector. This facility reinforces Hafnia’s potential to entry extremely aggressive funding sources and aligns our financing with our path to decarbonising delivery.” remarked Perry van Echtelt, Hafnia’s chief of finance.
With workplaces in Singapore, Copenhagen, Houston, and Dubai, Hafnia owns and operates over 200 vessels and provides a completely built-in delivery platform, together with technical administration, industrial and chartering providers, pool administration, and a large-scale bunker desk.
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