Overview
We will be collecting all transaction data that has a green financing element to it, as well as elaborating on new green financing techniques and strategies we are seeing come to market. To ensure that we have the most up-to-date information, we will be hosting green financing experts who are involved in these transactions to shed further light on this important topic.
Current focus will be on:
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Sustainability-linked loans
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Green bonds
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ESG Metric Reporting
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Carbon Credit Markets
Featured Content
Green Financing Report
Marine Money brings you Green & Sustainability-linked Financing for Shipping: Understanding the Requirements, Benefits and Costs of Responsible Finance. From second party opinions to Key Performance Indicators, this report helps borrowers understand the key considerations of this fast-growing market for capital.
Event Videos
Green Financing Articles
e1 Marine & the $40 million win, Win, WIN!: The Preferred Equity Deal of the Year
Mar 1, 2022
Shipping companies generally issue preferred shares for three basic reasons: (1) they need the cash; (2) their balance sheet can’t support more cheap debt; and (3) their share price is so low that issuing common equity would be unduly dilutive to shareholders.
Höegh Autoliners Equity Private Placement to Fuel Green Transition of Fleet: Equity Private Placement Deal of the Year
Mar 1, 2022
On November 24th, 2021, Höegh Autoliners, one of the leading global operators in the car carrier shipping segment, completed a landmark private placement of NOK 1,365m (USD 135m).
Green Financing Deals
Headline
Hafnia inks a sustainability linked loan facility
Company
Hafnia Limited
Type
Revolving Credit Facility
Sector
Tanker
Amount (mUSD)
303
Transaction Date
9/19/23
Comments
The facility is backed by a group of eight banks and secured by nine Hafnia chemical tankers. The facility has an annual Sustainability Margin Adjustment Mechanism with DNV providing the second party opinion on key performance indicator (KPIs).
Headline
COSCO Shipping Energy Transportation ("CSET") inks first ESG linked loan
Company
COSCO SHIPPING Energy Transportation
Type
Loan
Sector
Tanker
Amount (mUSD)
206
Transaction Date
9/15/23
Comments
The loan requires an independent third party, China Chengxin Green Finance Technology, a subsidiary of China Chengxin International Credit Rating, to assess and verify CSET’s performance on ESG targets. Meeting ESG targets may result in interest reductions.
Headline
Maersk goes to market with their second green bond facility
Company
A.P. Moller - Maersk A/S
Type
Bond
Sector
Diversified
Amount (mUSD)
750
Transaction Date
9/14/23
Comments
The facility is Maersk's first sale of dollar denominated bonds. Proceeds will be used to finance the construction of eight methanol-powered vessels.
Headline
Bound4Blue completes Series A fund raising
Company
Bound4Blue
Type
Equity
Sector
Infrastructure
Amount (mUSD)
24
Transaction Date
9/7/23
Comments
Bound4Blue raised funds from venture capital firms such as GTT Strategic Ventures, Louis Dreyfus Company Ventures, European Innovation Council and a number of others. Funds will be used to advance development of eSail wind propulsions products.
Headline
Major Norwegian renewable energy producer issues green bonds - Tranch - 2 - NOK 500 million
Company
Å Energi
Type
Bond
Sector
Infrastructure
Amount (mUSD)
28
Transaction Date
9/5/23
Comments
Å Energi AS, rated A- (Positive) by Scope, has today successfully issued senior unsecured green bonds with a total amount of NOK 1 000 million. The transaction was split into two tranches
Headline
Major Norwegian renewable energy producer issues green bonds - Tranch 1 - NOK 700 million
Company
Å Energi
Type
Bond
Sector
Infrastructure
Amount (mUSD)
65
Transaction Date
9/5/23
Comments
Å Energi AS, rated A- (Positive) by Scope, has today successfully issued senior unsecured green bonds with a total amount of NOK 1 000 million. The transaction was split into two tranches
Headline
Klaveness Combination Carriers ("KCC") taps the Norwegian bond market again
Company
Klaveness Combination Carriers AS
Type
Bond
Sector
Diversified
Amount (mUSD)
47.35
Transaction Date
8/30/23
Comments
The transaction was significantly oversubscribed and the margin was below the price on the existing bond, down by 110 bps.
Headline
Wallenius Wilhelmsen ("WW") went to the Oslo bond market for new corporate finance
Company
Wallenius Wilhelmsen ASA
Type
Bond
Sector
Drybulk
Amount (mUSD)
94.9
Transaction Date
8/17/23
Comments
The bonds are sustainability linked and will be used to refinance existing debt and general corporate purposes.
Headline
Euronav inks a long term sustainability linked loan for 1 VLCC and 3 Suezmax tankers
Company
Euronav NV
Type
Loan
Sector
Tanker
Amount (mUSD)
190.5
Transaction Date
8/3/23
Comments
The 12 year term loan finances 4 vessels, the VLCC Covis and Suezmax Brugge, Brest and Bristol. The loans are linked to sustainable ESG targets which will be verified by third party KSure.