Banyan Tree Holdings and Maybank Singapore have collaborated on Banyan Tree’s first sustainability-linked senior unsecured syndicated term loan facility.
Maybank, the sole mandated lead arranger, underwriter, bookrunner and sustainability coordinator, spearheaded the facility, which amounts to $70 million.
Bank of India (Singapore Branch) and Hua Nan Commercial Bank, Ltd. (Singapore Branch) are the lead arrangers.
“Our banking relationship with Banyan Group spans over two decades. Notably in 2020 during the pandemic, we successfully completed a convertible bond exercise and extended a bridging loan. It is a testament to the strength of our partnership,” says Gregory Seow, head of global banking at Maybank Singapore.
“In today’s dynamic marketplace with higher-for-longer interest rates, we recognise that businesses require timely, flexible and customised solutions to navigate challenges and capitalise on opportunities. As a trusted financial partner, Maybank's goal is to contribute to the global success story of Banyan Group, a highly regarded leader in the hospitality industry, and to support efforts for achieving its sustainability roadmap,” he adds.
Eddy See, president and CEO of Banyan Tree Holdings B58 , says, “Our group’s financial results for FY2023 have shown our recovery from the pandemic's impact. As we remain committed to advancing responsible tourism and supporting the industry’s decarbonisation pathway, our partnership with Maybank for our first sustainability-linked syndicated term loan facility will bolster these efforts.”
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Maybank has mobilised RM68 billion ($19 billion) in sustainable finance across the group from 2021 to 2023, on track to achieve its target of RM80 billion by 2025.
As at 2.58pm, shares in Banyan Tree are trading 1 cent lower or 2.56% down at 38 cents.
