CIMB inks landmark RM2.45b SLD transaction with Standard Chartered

CIMB Bank has entered into a sustainability-linked derivative (SLD) transaction with Standard Chartered Malaysia in the form of an interest rate swap with a notional value of RM2.45 bil for hedging purposes. According to the joint statement on Wednesday, this landmark deal is the world’s first ringgit denominated SLD transaction and to date, Asia’s largest environmental, social and governance (ESG) linked derivative transaction by notional value. They said this was based on publicly available data and the latest data compiled by the International Swaps and Derivatives Association (ISDA) as of January 2021.