European bank closes green loan facility to refinance dual-fuel product tanker fleet
The sustainability-linked facility carries margin adjustments tied to fleet carbon intensity performance.
A European ship finance bank has closed a sustainability-linked loan facility with a product tanker owner to refinance a fleet of dual-fuel vessels, the parties said in a joint statement.
The facility includes margin adjustments linked to the fleet's annual efficiency ratio performance against an agreed trajectory, with reporting verified by a third party.
Sustainability-linked structures have become increasingly common in ship finance as lenders align portfolios with climate reporting frameworks.
The owner said the refinancing extends its debt maturity profile and lowers its average cost of capital.
Financial terms beyond the structure of the facility were not disclosed.
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