StarHub unit bags RM270m sustainability-linked loan from CIMB

MALAREN International, a StarHub subsidiary based in Malaysia, has entered into a RM270 million sustainability-linked term loan facility agreement with CIMB Bank, the consumer banking arm of CIMB Group.

This is StarHub's first loan in which the interest is linked to the achievement of sustainability performance targets, the telco said on Thursday. Under the agreement, StarHub will be eligible for interest savings each year if it is able to achieve pre-agreed annual targets for its CDP Climate Change Scores from FY21-23.

CDP, formerly known as the Carbon Disclosure Project, is a global benchmark on the management of climate-related impact. It assesses responders' progress towards environmental stewardship, StarHub said. StarHub chief financial officer Dennis Chia said the telco is looking forward to more opportunities to participate in sustainability-linked financing, to proactively drive a sustainable business and enhance the performance of the company.

Loans Loans Latest News, Loans Loans Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

UOB offers US$200m sustainability-linked loan to Wilmar InternationalUOB on Tuesday said it has offered a two-year US$200 million sustainability-linked loan to Wilmar International. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

Banks lower revenue outlook as pandemic crimps loan demandExecutives at the top US banks warned investors this week that 2020 revenue will be lower than expected due to weak loan demand and an uptick in ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Kremlin says no exceptions for Belarus in repaying US$1.5 billion loanThe Kremlin on Tuesday said no exceptions would be made for Minsk in how it repays a US$1.5 billion (1.16 billion pounds) loan, agreed between ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »