27 March 2024

Maybank Singapore partners Banyan Group on its maiden S$70 million Sustainability-Linked Loan

Singapore, 27 March 2024 – Maybank Singapore and Banyan Tree Holdings Limited (Banyan Group) announces that it is collaborating on Banyan’s first Sustainability-Linked Senior Unsecured Syndicated Term Loan Facility. Acting as the sole Mandated Lead Arranger, Underwriter, Bookrunner, and Sustainability Coordinator, Maybank spearheaded this Facility amounting to S$70 million with Bank of India (Singapore Branch) and Hua Nan Commercial Bank, Ltd. (Singapore Branch) as Lead Arrangers.

Gregory Seow, Head of Global Banking at Maybank Singapore said, “Our banking relationship with Banyan Group spans over two decades. Notably in 2020 during the pandemic, we successfully completed a convertible bond exercise and extended a bridging loan. It is a testament to the strength of our partnership.”

“In today’s dynamic marketplace with higher-for-longer interest rates, we recognise that businesses require timely, flexible and customised solutions to navigate challenges and capitalise on opportunities. As a trusted financial partner, Maybank's goal is to contribute to the global success story of Banyan Group, a highly regarded leader in the hospitality industry, and to support efforts for achieving its sustainability roadmap.”

Eddy See, President and Chief Executive Officer of Banyan Tree Holdings said, “Banyan Group’s founding ethos of Embracing the Environment, Empowering People remains the cornerstone of our brand. Our Group’s financial results for FY2023 have shown our recovery from the pandemic's impact. As we remain committed to advancing responsible tourism and supporting the industry’s decarbonisation pathway, our partnership with Maybank for our first Sustainability-Linked Syndicated Term Loan Facility will bolster these efforts.”

Maybank has mobilised RM68 billion (S$19 billion) in sustainable finance across the group from 2021 to 2023, on track to achieve its target of RM80 billion (S$23 billion) by 2025.

Maybank was named “Bank of the Year” in Singapore and Asia Pacific by The Banker, and also bagged the “Corporate & Investment Bank of the Year – Singapore” and “Green Deal of the Year – Singapore” awards by Asian Banking & Finance.

With common aspirations to advance sustainability, this collaboration between Maybank Singapore and Banyan Group signifies a shared commitment in setting new standards for business practices.

For inquiries, please contact Noelle Lim, Group Global Banking, Maybank noelle.lim@maybank.com