Latest news with #TechnicalScreeningCriteria
Business Times
2 days ago
- Business
- Business Times
Blackstone-backed AirTrunk secures S$2.3 billion green loan for second Singapore hyperscale data centre
[SINGAPORE] Blackstone-backed data centre firm AirTrunk has secured a landmark S$2.3 billion green loan in Singapore to develop its second hyperscale data centre, AirTrunk SGP2. As Singapore's largest green loan for a data centre, the transaction marks a major milestone in sustainable digital infrastructure financing in the region, said the Asia-Pacific and Japan hyperscale data centre specialist on Monday (Aug 18). Credit Agricole, DBS and ING were coordinators and sustainability structuring agents for the financing structure. The mandated lead arrangers and bookrunners were MUFG, Natixis, Standard Chartered (Singapore) and UOB. With the data centre sector fast emerging as a key growth industry in Asia, DBS group head of telecommunications, media and technology Amit Sinha noted that Singapore is 'uniquely positioned to catalyse the sector's transformation', as it is both a global financial hub and a data centre leader. The financing agreement begins as a green loan with the option of being converted into a sustainability-linked loan (SLL) – a debt instrument where the interest rate can be raised or lowered depending on the borrower's achievement of pre-determined sustainability performance indicators. AirTrunk will partner technology companies to develop the new data centre, which will be sited in Loyang – where its first data centre AirTrunk SGP1 is located. A NEWSLETTER FOR YOU Friday, 12.30 pm ESG Insights An exclusive weekly report on the latest environmental, social and governance issues. Sign Up Sign Up The data centre will provide its partners in Singapore and South-east Asia with more than 70 megawatts of essential cloud and artificial intelligence computing capacity. It has been designed to achieve a Building and Construction Authority (BCA) Green Mark Platinum rating – the top certification level under the BCA's building rating scheme – AirTrunk said. This comes as the campus features green concrete and green steel throughout, to reduce embodied carbon, it added. The data centre is also designed to attain a Power Usage Effectiveness (PUE) score of 1.20, which is among the lowest data centre PUE scores in Singapore, AirTrunk noted. PUE is the ratio of the total energy a data centre uses to that of the IT equipment energy used. Data centres with lower PUEs are more efficient. AirTrunk founder and chief executive officer, Robin Khuda, remarked that the loan's financing structure highlights 'the strength, depth, and international scale of Singapore's financial ecosystem'. Credit Agricole head of telecom finance for Apac, Jasmine Zhang, said that the option to convert the green loan into an SLL at a later stage is a 'holistic approach to long-term impact'. The loan aligns with the Monetary Authority of Singapore's (MAS) Technical Screening Criteria of the Singapore-Asia Taxonomy for Sustainable Finance and AirTrunk's Green Financing Framework, AirTrunk said. The company added that all financial incentives from the loan will be directed to its social impact fund. '(The loan) reflects growing momentum in the shift towards responsible investment, and accelerates Singapore's trajectory as a world-leading green finance hub – a vision championed by the MAS,' the data centre firm said. Beyond Singapore, AirTrunk operates data centres in Malaysia, Hong Kong, Japan and Australia.
Yahoo
18-06-2025
- Business
- Yahoo
Crédit Agricole CIB Acts as Sole Green Structuring Agent and Active Joint Bookrunner in Pacific Life's Inaugural EUR Green Bond
NEW YORK, June 18, 2025--(BUSINESS WIRE)--Crédit Agricole CIB recently acted as Sole Green Structuring Agent on Pacific Life's inaugural EUR 600mm Green Bond. Pacific Life provides a variety of products and services designed to help individuals and businesses in the retail, institutional, workforce benefits, and reinsurance markets and has supported its policyholders for nearly 160 years. The offering has garnered significant interest from global investors, underscoring Pacific Life's commitment to sustainable finance and green investment while solidifying its position as a labelled debt issuer in both EUR and USD. As provided in Pacific Life's Sustainable Bond Framework, an amount equal to the net proceeds from the sale of the Green Bonds will be allocated to fund green investments including renewable energy and green buildings. "This green bond issuance reflects Pacific Life's ongoing efforts to meet the evolving needs of the global capital markets and offer diversified investment opportunities to our stakeholders," said Joe Krum, Head of the Global Institutional Investment Group, Pacific Life. "Responsible investing is a key component of our broader investment strategy, and this transaction supports our goal of delivering long-term value through a well-balanced investment approach. We view green bonds as a natural extension of our capabilities and a way to broaden our presence in the market while aligning with investor demand." The framework obtained a positive second party opinion from Sustainalytics as well as an evaluation on alignment of the use of proceeds with the Technical Screening Criteria and Minimum Safeguards of the EU Taxonomy. "We are honored to have played a role in Pacific Life's return to the sustainable finance market with an inaugural EUR Green Bond," added Romina Reversi, Head of Sustainable Investment Banking for the Americas at Crédit Agricole CIB. "The transaction underscores Pacific Life's impressive thought leadership and dedication to continual investment in green activities. We hope the success of the transaction will inspire other US issuers to come to market in labelled format." The closing of Pacific Life's Green Bond marks the continuation of an important relationship for Crédit Agricole CIB's franchise and further solidifies the bank's status as a market leader in sustainable financing. About Crédit Agricole Corporate and Investment Bank (Crédit Agricole CIB) Crédit Agricole CIB is the corporate and investment banking arm of Crédit Agricole Group, the 9th largest banking group worldwide by total assets 2023 (The Banker, July 2024). With over 9,500 employees across Europe, the Americas, Asia-Pacific, the Middle East and Africa, the Bank supports large and mid-cap corporates and institutional clients, helping them meet both local and international financial needs. Crédit Agricole CIB offers a comprehensive range of products and services in capital markets, investment banking, structured finance, commercial banking and international trade. The Bank is committed to supporting its clients in their transition to a low-carbon economy and to aligning its own activities toward net zero. In line with its ambitions, Crédit Agricole CIB is a pioneer and a global leader in sustainable finance (co-founded the Equator Principles, co-authored the Green Bond Principles and Sustainability-Linked Bond Principles). For more information, please visit View source version on Contacts For media inquiries, please contact: Crédit Agricole Corporate and Investment Bank Jenna LeeHead of Communications for the AmericasEmail: Tel: +1 212 261 7328 Sign in to access your portfolio
Business Wire
18-06-2025
- Business
- Business Wire
Crédit Agricole CIB Acts as Sole Green Structuring Agent and Active Joint Bookrunner in Pacific Life's Inaugural EUR Green Bond
NEW YORK--(BUSINESS WIRE)--Crédit Agricole CIB recently acted as Sole Green Structuring Agent on Pacific Life's inaugural EUR 600mm Green Bond. Pacific Life provides a variety of products and services designed to help individuals and businesses in the retail, institutional, workforce benefits, and reinsurance markets and has supported its policyholders for nearly 160 years. The offering has garnered significant interest from global investors, underscoring Pacific Life's commitment to sustainable finance and green investment while solidifying its position as a labelled debt issuer in both EUR and USD. As provided in Pacific Life's Sustainable Bond Framework, an amount equal to the net proceeds from the sale of the Green Bonds will be allocated to fund green investments including renewable energy and green buildings. 'This green bond issuance reflects Pacific Life's ongoing efforts to meet the evolving needs of the global capital markets and offer diversified investment opportunities to our stakeholders,' said Joe Krum, Head of the Global Institutional Investment Group, Pacific Life. 'Responsible investing is a key component of our broader investment strategy, and this transaction supports our goal of delivering long-term value through a well-balanced investment approach. We view green bonds as a natural extension of our capabilities and a way to broaden our presence in the market while aligning with investor demand.' The framework obtained a positive second party opinion from Sustainalytics as well as an evaluation on alignment of the use of proceeds with the Technical Screening Criteria and Minimum Safeguards of the EU Taxonomy. 'We are honored to have played a role in Pacific Life's return to the sustainable finance market with an inaugural EUR Green Bond,' added Romina Reversi, Head of Sustainable Investment Banking for the Americas at Crédit Agricole CIB. 'The transaction underscores Pacific Life's impressive thought leadership and dedication to continual investment in green activities. We hope the success of the transaction will inspire other US issuers to come to market in labelled format.' The closing of Pacific Life's Green Bond marks the continuation of an important relationship for Crédit Agricole CIB's franchise and further solidifies the bank's status as a market leader in sustainable financing. About Crédit Agricole Corporate and Investment Bank (Crédit Agricole CIB) Crédit Agricole CIB is the corporate and investment banking arm of Crédit Agricole Group, the 9 th largest banking group worldwide by total assets 2023 (The Banker, July 2024). With over 9,500 employees across Europe, the Americas, Asia-Pacific, the Middle East and Africa, the Bank supports large and mid-cap corporates and institutional clients, helping them meet both local and international financial needs. Crédit Agricole CIB offers a comprehensive range of products and services in capital markets, investment banking, structured finance, commercial banking and international trade. The Bank is committed to supporting its clients in their transition to a low-carbon economy and to aligning its own activities toward net zero. In line with its ambitions, Crédit Agricole CIB is a pioneer and a global leader in sustainable finance (co-founded the Equator Principles, co-authored the Green Bond Principles and Sustainability-Linked Bond Principles). For more information, please visit
Business Times
27-04-2025
- Business
- Business Times
More support for SMEs to access sustainable financing: UOB
UOB said that it is enhancing support for small and medium-sized enterprises (SMEs) to help them access sustainable financing. The lender has incorporated the Monetary Authority of Singapore's (MAS) Technical Screening Criteria of the Singapore-Asia Taxonomy into all of its six sector-focused sustainable financing frameworks. The frameworks are: circular economy, green buildings, sustainable cities, sustainable food and agribusiness, sustainable trade, as well as transition finance. UOB wants to ensure that sustainable financing remains accessible, while supporting the green transition. The enhanced frameworks explicitly include companies in the industry value chain that provide goods and services in sustainable assets, activities, projects and products. The bank applies a differentiated assessment model. The entities directly involved in the economic activities, such as project owners and main contractors, that are seeking financing above a specific threshold will need to provide evidence of their compliance with specific criteria. Other entities, such as those assessed with lower risk profiles, will follow an attestation-based approach with mandatory representations and warranties. UOB's transition finance framework covers specific measures for a just and orderly transition in the oil, gas and chemicals sector, with defined sunset dates established. This gives companies the time and support needed to pivot their business models, enhance operational efficiencies and move towards lower-carbon solutions. Lim Lay Wah, UOB's group head of sector solutions and global financial institutions group, said: 'UOB's long-term vision is to balance environmental integrity with practical economic considerations, ensuring SMEs can decarbonise while maintaining business growth.' The lender provided S$58 billion in sustainable financing in 2024. It said that it has supported 580 SMEs in their sustainability journey, financed more than 175 green buildings, enabled the development of 20 green data centres, and facilitated S$7 billion in sustainable trade financing for agri-commodities and responsible supply chains.
