Oil and gas shipping firm MISC Berhad signed a US$527 million (RM2.3 billion) syndicated loan facility to finance six very large ethane carriers, or VLECs. The 11-year sustainable-linked non-recourse term loan is the group’s debut sustainability-linked loan and is structured to align with its long-term business strategy and sustainability aspirations. “MISC has committed to achieving net-zero greenhouse gas emissions by 2050 and aims to contribute to a carbon-neutral economy by transitioning to low-carbon, and eventually zero-carbon, emissions transport solutions,” said MISC in a statement.

Source: The Edge Markets