MUFG Bank closes $7b sustainability-linked syndicated term loan facility 

The bank arranged the facility for HK-listed manufacturer, Kingboard Holdings.

MUFG Bank has closed a five-year, $7b sustainability-linked syndicated term and revolving loan facility with Hong Kong-listed chemical manufacturer, Kingboard Holdings Limited (Kingboard).

The transaction was oversubscribed 1.17 times.

Meanwhile, this also marks Kingboard’s first ESG-linked syndication facility undertaken at the group level.

Earlier, one of Kingboard’s subsidiaries, Kingboard Laminates Holdings Ltd., bagged a similar sustainability-linked syndicated facility where MUFG also served as one of the Mandated Lead Arrangers, Bookrunners (MLAB) and Sustainability Coordinators/
 
“The terms of Kingboard’s latest facility include sustainability performance targets linked to reducing levels of carbon emission output per tonne of the finished product, as well as reducing hazardous waste output per tonne of the finished product,” MUFG said.