Pacific Basin Shipping Limited has successfully closed a new US$250 million Sustainability-Linked 7-Year Secured Revolving Credit Facility. The agreement involves BNP Paribas, Citigroup Global Markets Asia Limited, and The Hongkong and Shanghai Banking Corporation Limited as Joint Coordinating Mandated Lead Arrangers, among others. The facility is intended for general corporate purposes and features a tiered pricing mechanism linked to sustainability performance targets, focusing on carbon intensity and crew safety. Moody's Investors Service provided a favorable second party opinion on the relevance and robustness of these sustainability targets.
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