Seatrium Limited (Seatrium) is pleased to announce that its whollyowned subsidiary, Estaleiro Jurong Aracruz Ltda (EJA), has successfully refinanced an existing
facility due in December 2023 with a USD500 million facility from Standard Chartered Bank
(Singapore) Limited.
Demonstrating the Group’s strong commitment to sustainability in its business, the facility includes
an innovative sustainability-linked conversion option aligned to the Sustainability-Linked Loan
Principles. This will support Seatrium in achieving its ESG targets over time through adjustments
to the loan characteristics upon conversion.
Seatrium’s Chief Executive Officer, Chris Ong, said, “We are pleased to receive the strong support
from our relationship bank, Standard Chartered Bank (Singapore) to refinance our existing loan
facility ahead of time, with improved terms and conditions. The embedded sustainability feature
provides an additional boost to our ongoing efforts in promoting sustainability in our business and
supporting the industry’s energy transition towards cleaner energy sources.”
Standard Chartered’s Head of Client Coverage, Singapore, Corporate, Commercial and
Institutional Banking, Freddy Ong, said, “We are delighted to continue our trusted, long-standing
partnership with Seatrium and its subsidiaries, to support their progress in transition with the view
to enabling future growth. Transition finance is a core component of our sustainability offering,
demonstrating our commitment in achieving net zero, together with our clients, through innovative
and flexible financing solutions.”
As a leading global provider of innovative engineering solutions for the offshore, marine and
energy industries, Seatrium recognises the importance of sustainability in its operations and has
set ESG (Environmental, Social, and Governance) goals. It is working towards achieving 40% of
its net order book from renewables and cleaner/ green solutions, and reducing its greenhouse gas
emissions by 40% by 2030. As one of the early movers in the clean energy trend, the Group has
also built a strong track record in the renewables space including High Voltage Direct Current
(HVDC) electrical transmission systems and Wind Turbine Installation Vessel (WTIVs).
