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SMBC, SocGen approve sustainability-linked loan for LNG vessel
Facility for MOL subsidiary is supported by a transition finance framework
Michael Marray 5 Jan 2022

SMBC Bank EU and Société Générale have provided a sustainability-linked loan to Emerald Blue Maritime, a wholly owned subsidiary of Japanese shipping company Mitsui O.S.K. Lines (MOL), to finance the acquisition of one of the world’s largest liquefied natural gas (LNG) bunkering vessels.

The loan is supported by a transition framework, relying on the Climate Transition Finance Handbook and the Sustainability-Linked Loan Principles, for the purpose of helping Emerald Blue acquire Gas Vitality.

Société Générale acted as sole mandated lead arranger, agent, security agent, bookrunner, co-sustainability coordinator and lender, and SMBC Bank EU acted as lead arranger, co-sustainability coordinator and lender. The lenders were advised by Norton Rose Fulbright.

The vessel with 18,600 cubic metres of cargo tank capacity and 8,780 deadweight tonnage has been chartered to an affiliate of France-headquartered energy company TotalEnergies, and will be supplying LNG to power vessels in the Mediterranean Sea. The loan has an acquired third-party certification from DNV Business Assurance Japan.

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