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Green Finance / Treasury & Capital Markets
Maybank, Banyan ink US$51 million green loan
Hospitality firm’s first sustainability-linked senior unsecured syndicated term loan facility
Tom King 28 Mar 2024

Maybank Singapore and Singapore-based independent global hospitality company Banyan Tree Holdings (Banyan) have collaborated on Banyan’s first sustainability-linked senior unsecured syndicated term loan facility.

Acting as the sole mandated lead arranger, underwriter, bookrunner and sustainability coordinator, Maybank spearheaded this facility, amounting to S$70 million (US$51.9 million), with Bank of India (Singapore) and Hua Nan Commercial Bank (Singapore) acting as lead arrangers.

Maybank, which is Southeast Asia’s fourth-largest bank by assets, notes that between 2021 and 2023  it has mobilized in excess of US$14 billion in sustainable finance across the group and that it is on track to achieve its target of US$17 billion by 2025.

“Banyan’s founding ethos of embracing the environment, empowering people remains the cornerstone of our brand,” says Eddy See, Banyan’s president and chief executive officer. “We remain committed to advancing responsible tourism and supporting the industry’s decarbonization pathway, our partnership with Maybank for our first sustainability-linked syndicated term loan facility will bolster these efforts.”

Gregory Seow, Maybank Singapore’s head of global banking, adds: “Our banking relationship with Banyan spans over two decades. Our goal is to support the company’s efforts in achieving its sustainability roadmap.”

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