Wilmar International gets $100 million sustainability-linked loan

By Mary-Katherine Stinson

Lexington, Ky., April 7 – Singapore’s Wilmar International Ltd. entered a three-year $100 million sustainability-linked loan with Bank of East Asia, Ltd., according to a notice on Thursday.

The facility’s interest rate will be reduced on a tiered basis if Wilmar achieves pre-determined targets covering a range of ESG metrics.

The metrics include Wilmar’s internal key performance indicators and external benchmarking standards which includes continued inclusion in the Dow Jones Sustainability Index Asia Pacific.

Wilmar has been included in the index since November 2020.

“To date, Wilmar has...[secured] over $1.5 billion of sustainable financing, which remains part of our holistic approach to integrate our sustainability principles into our business operations at every level. Besides interest savings, sustainable financing instruments such as SLLs enable us to align our business and sustainability goals, while continuing to make strides in our ESG performance,” said Wilmar chief executive officer Charles Loo, in the press release.

Based in Singapore, Wilmar is an agribusiness company with activities in oil palm cultivation; oilseeds crushing; edible oils refining; sugar, specialty fats, oleochemicals and biodiesel manufacturing; and grains processing.

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