Standard Chartered Vietnam leads the way in sustainable finance

Wednesday, May 26, 2021 11:55

Park Hyatt Phu Quoc Project developed by BIM Land. Standard Chartered acted as the Joint Lead Manager and Joint Bookrunner for BIM Land JSC project. — Photo

Standard Chartered Vietnam has become the pioneer in sustainable finance with two recent transactions in green bond and renewable wind power, reinforcing its sustainability commitment in the country.

Together with Standard Chartered Bank China, the bank has successfully closed an US$462 million trade finance transaction for renewable wind power projects. By engaging in the project, the bank is actively supporting its commitment to the Paris Agreement and the UN Sustainable Development Goals. Standard Chartered will provide clients financing support for their strategic wind power projects and for the sustainable development of Viet Nam.

Another remarkable deal is the BIM Land JSC project, where Standard Chartered acted as the Joint Lead Manager and Joint Bookrunner. The bank successfully priced a debut $200 million Senior Guaranteed Fixed Rate Notes due 2026. Standard Chartered continues to expand its credentials in the ESG space, with this transaction marking the first sole mandate from a Vietnamese issuer as Green Structuring Advisor. This transaction also reaffirms Standard Chartered’s title as the only bank that has led all outstanding US dollar bonds from Viet Nam. The bank played a pivotal role in structuring the transaction, creating the green bond framework, devising the marketing and execution strategies and advising the Issuer on opportune windows in the market.

Michele Wee, CEO for Vietnam, Standard Chartered Bank, said: “By using our sustainable financing solutions, our clients can now complement their sustainable procurement and their own sustainable agenda with Standard Chartered’s tailor-made solutions. The recent wind power and green bond transactions are two notable deals that reinforce our sustainability commitment. Leveraging on these, we will take greater strides to meet our clients’ sustainable finance needs.”

Sustainable Finance is one of the three pillars of Standard Chartered Sustainability Framework. In 2020, the bank mobilised $2.4 billion towards sustainable infrastructure and $18.4 billion towards clean technology. Standard Chartered's unique footprint across emerging markets enables the bank to focus sustainable finance where it matters most to contribute to the delivery of the sustainable development goals. — VNS

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