Thai Unions 11.4bn Incredible Finance Deal
Explore Thai Union Group’s groundbreaking journey in sustainable finance with its recent 11.4 billion baht sustainability-linked loan. Delve into the company’s ambitious Blue Finance strategy aiming to revolutionize its long-term financing with a focus on ocean conservation. Discover how leading global banks are supporting Thai Union’s commitment to a sustainable future, marking a significant milestone in the seafood industry.
Thai Union Group Announces Major Sustainable Finance Achievement
In a significant move towards sustainability, Thai Union Group, a leading global seafood powerhouse, has proudly announced the successful acquisition of a monumental 11.4 billion baht sustainability-linked loan (SLL). This strategic financial milestone was unveiled at the much-anticipated Sustainability Expo in October 2023, held at the prestigious Queen Sirikit National Convention Center.
Thai Union’s Blue Finance Strategy: A Leap Toward Sustainable Future
Marking a new era in its financial strategy, this SLL package is a pivotal part of Thai Union’s innovative Blue Finance agenda. With a forward-looking vision, the company is steadfast in its commitment to enhance its sustainability-linked finance. The target is ambitious yet achievable: to amplify this to 75% of the company’s long-term financing by 2025.
Reflecting on its sustainable finance journey, Thai Union has already achieved commendable progress. Between 2020 and 2022, the company triumphed in the first phase of its Blue Finance initiative. This phase saw a significant increase in its long-term SLL, reaching 50% of its long-term financing. This initiative underscores the company’s dedication to promoting sustainability, particularly in ocean conservation, which is crucial for the future of our planet.
Leading Global Banks Back Thai Union’s Sustainability-Linked Loan
The newly secured SLL, unique in its structure, is denominated in both Thai baht and US dollars. It spans across various tenors, including three and five-year periods. This robust financial package is backed by a consortium of leading global banks. These include HSBC, Bank of Ayudhya, MUFG Bank, Mizuho Bank, and Sumitomo Mitsui Banking Corporation. These financial giants have played a pivotal role, acting as the mandated lead arranger, bookrunner, and sustainability coordinators for this trailblazing financing.
Thai Union’s successful venture into sustainable financing has garnered immense support from these top-tier banks. This collaboration not only highlights Thai Union’s commitment to sustainable practices but also reflects the confidence of the global financial community in the company’s vision and long-term goals. This milestone is a testament to Thai Union’s leadership in the seafood industry and its unwavering commitment to a sustainable future.
Related: Top 10 Largest Seafood Producers in the USA
