GLP secures largest sustainability-linked loan in APAC

ING acted as coordinator and GLP’s ESG advisor for the deal.

Global investment manager GLP has secured $868.9m (US$658m), its first sustainability-linked loan (SLL) and the largest in the Asia Pacific.

The three-year revolving credit facility was structured as an SLL tied to GLP’s latest Sustainalytics Environmental, Social and Governance (ESG) Risk Rating. Under the facility, GLP is committed to improving its ESG Risk Rating score which reflects its performance in various ESG metrics.

The loan features a two-tier incentive mechanism where GLP will be entitled to an interest rate reduction when targeted improvements in its ESG performance score are achieved.

ING acted as the Lead Sustainability Structurer and Coordinator for GLP’s first SLL as well as GLP’s sole ESG advisor on its new Green Finance Framework which will cover its future green use-of-proceeds bond and loan issuances. Ten banks participated in the deal.

According to GLP's global treasurer Edwin Tey, the company will used the proceeds of the loan to sustainably enhance its assets and the communities in which the firm works.

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