Pacific Basin closes $250m financing facility linked to carbon intensity, crew safety targets

Bulker owner and operator Pacific Basin Shipping Limited has closed a new $250m sustainability-linked 7-year senior secured committed revolving credit facility.

The new credit facility will be used for for general corporate purposes, according to the Hong Kong-based firm, which specialises in handysize, supramax and ultramax dry bulk vessels.

“This is our second sustainability-linked financing facility which serves to extend our funding profile, reinforce our commitment to sustainable shipping, and strengthen our financial capacity as we continue to pursue growth opportunities arising especially in these times of uncertainty and turbulence,” said the chief executive of Pacific Basin Martin Fruergaard.

The facility aligns financing with Pacific Basin’s corporate sustainability agenda by incorporating a tiered pricing mechanism that adjusts the interest margin based on actual