SINGAPORE – Wilmar International has obtained a US$200 million (S$263 million) sustainability-linked trade finance facility from Standard Chartered (StanChart).

The margin ratchet on this facility will move according to the mainboard-listed agribusiness group’s annual performance against predefined internal key performance indicators and external benchmarking standards, the group said in a joint bourse filing with StanChart on Monday.

Wilmar’s chief financial officer Charles Loo said sustainable financing remains part of the group’s holistic approach to integrate sustainability principles into every aspect of the business operations.

“We believe it is important to align our sustainability goals with business and financial operations in order to build a responsible business that is future-ready,” he added.

Mr Freddy Ong, Standard Chartered head of client coverage, Singapore, corporate, commercial and institutional banking, said the agricultural industry is key to the bank’s shared vision of a low-carbon future, and that it is “proud to be playing a key role” in growing Wilmar’s sustainability progress.

Wilmar shares closed lower by one cent, or minus 0.24 per cent, at $4.14 on Monday. THE BUSINESS TIMES