Singapore Telecommunications’s (Singtel) subsidiary Singtel Group Treasury secured its first sustainability-linked revolving credit facility of $750 million.
In a press release dated April 22, Singtel says the loan is the largest Singapore dollar denominated sustainability-linked loan in Singapore to date.
The three-year loan provided by DBS, OCBC and UOB features interest rate discounts pegged to pre-determined environmental, social and governance (ESG) targets in areas such as climate risk, carbon management and workplace health and safety metrics.
The loan marks Singtel’s first foray into sustainable financing under its new programme called Olives.
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Arthur Lang, Singtel group CFO, says the Olives programme is aimed at aligning the group’s financing strategy to broader ESG goals.
“Under Olives, we will potentially launch other ESG-related loans and green bonds in future," he says.
As at 12.41pm, shares in Singtel are down 1 cent or 0.39% lower at $2.53.
