BW Epic Kosan gets $140m via debut sustainability-linked loan

Singapore’s BW Epic Kosan has clinched its first sustainability-linked loan of up to $140m as well as an additional $20m acquisition line to finance potential growth opportunities.

The Oslo-listed midsize LPG specialist of the BW Group will use the proceeds to refinance 19 vessels.

The deal includes a margin adjustment linked to reducing fleet emissions and increasing the number of female seafarers.

The syndicate includes ABN AMRO Bank as sustainability coordinator and Credit Agricole as documentation agent, jointly acting as bookrunning mandated lead arrangers, along with Skandinaviska Enskilda Banken, Standard Chartered Bank and Iyo Bank.

Charles Maltby, CEO of BWEK, commented: “We appreciate the support from our financial partners on our important initiatives to reduce climate impact from vessel operations and to improve gender diversity in shipping. We look forward to collaborating further with all partners to achieve our sustainability goals.”