Mizuho Bank signs green loan deal with major Thai chemical firm
BANGKOK, NNA - Mizuho Bank has signed a $255 million sustainability-linked transnational syndicated loan deal with major Thai chemical firm Indorama Ventures PCL.
Mizuho announced Monday the deal is a landmark transaction under which it is solely arranging so-called ninja loans for a Thai company for the first time by taking the firm's environmental, social and governance rating into consideration.
Indorama Ventures, the world's leading supplier of plastic packaging material polyethylene terephthalate, will receive the loans in the form of positive incentive loans. The Bangkok-based firm operates in 33 countries and regions.
"Indorama had to diversify its funding sources due to growing needs for funding in light of its expanding global operations through mergers and acquisitions," an official at Mizuho Bank's Bangkok branch told NNA on Monday.
The Japanese bank, which has arranged ninja loans in India, Indonesia and Singapore, hopes to arrange more such loans for Thai companies in the future, the official added. (NNA/Kyodo)