BT Explains: What it means to base a loan on Poseidon Principles
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THE US$2.9 billion loan facility which Olam Agri has taken out to refinance its existing loans, among other uses, involves 16 lenders that united over what are known as Poseidon Principles.
Why are lenders enthusiastic about this set of principles, and what obligations are tied behind loans issued based on them? The Business Times explains.
What are Poseidon Principles?
In 2018, the International Maritime Organization (IMO), a specialised agency of the United Nations responsible for regulating shipping, approved a strategy to reduce greenhouse-gas emissions generated by shipping activity.
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