Wilmar International gets $100 million sustainability-linked loan

By Mary-Katherine Stinson

Lexington, Ky., March 19 – Singapore’s Wilmar International Ltd. entered a $100 million two-year sustainability-linked loan with Bank of East Asia, Ltd., according to a notice.

This is the second sustainability-linked loan between Wilmar and the bank.

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 include continued inclusion in the Dow Jones Sustainability Index Asia Pacific.

Wilmar has been included in the index since November 2021.

“Funds from this SLL facility will incentivize improvement in our ESG performance while expanding our financial resources,” 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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