Deutsche Bank approves US$25m green loan for rubber franchise Halcyon

It will be used for the maintenance of the company’s plantations.

Deutsche Bank has provided a $34.82m (US$25m) sustainability-linked loan facility to Corrie MacColl, a subsidiary of Halcyon Agri Corporation, to finance the company’s capex investments for its rubber plantations in Cameroon and Malaysia, an announcement revealed.

The loan facility has a three-year tenor and an accordion feature to upsize the facility to about $104m (US$75m).

The proceeds of the loan will be used for the maintenance of Halcyon’s rubber plantations whilst promoting its Cameroon Outgrower Programme, which aims to provide additional food security and boost the income of 13,000 local smallholder farmers, according to the press release.

Corrie MacColl will be required to comply with the mutually agreed sustainability framework developed by Environmental Resources Management (Singapore) (ERM). Compliance will be assessed and verified by ERM, which has been appointed by Deutsche Singapore as consultant on the framework.

“Whilst ESG conditions attached to loan rates are not unusual in corporate lending facilities, it is the comprehensive nature of the KPIs that will set a new standard for the rubber industry, making this commercial loan unique,” the announcement read.

Halcyon is one of the world's leading rubber franchises. Halcyon developed its HEVEAPRO rubber processing standards in 2014 and released their Sustainable Natural Rubber Supply Chain Policy in 2018, which includes a No Deforestation commitment, a first for the industry.

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia