Wilmar obtains US$200m in sustainability-linked trade finance facility

WILMAR International has obtained a US$200 million sustainability-linked trade finance facility from Standard Chartered (StanChart).

The margin ratchet on this facility will move according to the mainboard-listed agribusiness group’s annual performance against predefined internal key performance indicators and external benchmarking standards, the group said in a joint bourse filing with StanChart on Monday (Jan 16).

Wilmar’s chief financial officer Charles Loo said sustainable financing remains part of the group’s holistic approach to integrate sustainability principles into every aspect of the business operations.

“We believe it is important to align our sustainability goals with business and financial operations in order to build a responsible business that is future-ready,” he added.

Standard Chartered head, client coverage, Singapore, corporate, commercial and institutional banking, Freddy Ong, said the agricultural industry is key to the bank’s shared vision of a low-carbon future, and that it is “proud to be playing a key role” in growing Wilmar’s sustainability progress.

Wilmar closed at S$4.15 last Friday, up 0.2 per cent or S$0.01.