Photo by Calvin Teo.

Maybank Singapore approves landmark US$100m green-linked Islamic loan

Maritime transportation services company AET will use it to reduce GHG emissions.

Maybank Singapore has extended a US$100m green-linked Islamic loan to AET, an owner and operator of maritime transportation assets and specialized services.

The transaction marks the first sustainability-linked, Islamic revolving credit facility (RCF-i) in Southeast Asia.

Funds from the maiden RCF-i will support AET’s goal to reduce its fleet’s GHG emissions intensity by 40% by 2030, measured against a 2008 baseline. It is also expected to help AET achieve its long-term commitment of net-zero GHG emissions by 2050.

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AET is also looking to invest in new assets and businesses that support the energy transition. This RCF-i can be used to fund such low-carbon initiatives and decarbonisation efforts to meet the world’s energy needs in the most sustainable and responsible way. 
Maybank served as the loan’s sole financier, with Maybank Investment Bank as the Sustainability Structuring Adviser.

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