Mitsui O.S.K. Lines (MOL) has unveiled a sustainable finance framework aligned with its principles, drawing inspiration from the “Climate Transition Finance Handbook 2023” by the International Capital Markets Association (ICMA).
Under this framework, the MOL Group has executed three Transition Loans (TL) and one Transition Linked Loan (TLL) financing agreement, with another TLL financing agreement in the pipeline. Notably, two of these loans have been designated by the Ministry of Economy, Trade and Industry (METI) as part of the 2023 Transition Finance Project.
| Lender | Sumitomo Mitsui Banking Corporation | Sumitomo Mitsui Trust Bank, Limited | The Bank of Yokohama, Ltd. | The Bank of Yokohama, Ltd. | SBI Shinsei Bank, Ltd. |
|---|---|---|---|---|---|
| Contract Form | TL | TL | TL | TLL* | TLL* |
| Contract Signing
Date |
December 20, 2023 | December 26, 2023 | December 26, 2023 | December 26, 2023 | Late January to February 2024 (scheduled to be concluded) |
| Use of Funds | Construction of two LNG dual-fueled ferries | Construction of bulk carrier equipped with Wind Challenger | Construction of LNG dual-fueled pure car and truck carrier (PCTC) | Construction of LNG dual-fueled very large crude carrier (VLCC) | Construction of LNG dual-fueled very large gas carrier (VLGC) |
To validate its eligibility, MOL sought a second-party opinion from DNV Business Assurance Japan K.K. (DNV), an international third-party certification organization. This framework enables MOL to flexibly and continuously raise funds through sustainable finance.
