Euronav docks sustainability-linked loan as ship finance steers towards ESG
Euronav, the Belgian tanker company, has signed a sustainability-linked revolving credit facility, as the shipping industry comes under increasing scrutiny over its carbon output.
Euronav’s €80m three year facility comes with two one year extension options. It was provided by ABN Amro, Belfius, BNP Paribas, ING, KBC, SEB and Société Générale.
The loan’s margin is linked to a year-on-year reduction in carbon emissions, starting from this year.The financing structure is a “critical part” ...