Peacock closes first sustainability linked loan in the ISO tank leasing space, and increases its facility

Peacock closes first sustainability linked loan in the ISO tank leasing space, and increases its facility

Peacock Container, a leading global tank container lessor, has closed an amendment converting its existing senior secured financing facility into a sustainability-linked loan (SLL), increasing alignment of its financing strategy with its principles and values.

Peacock also welcomes Clifford Capital Pte Ltd to its banking group through an increase of the facility amount from USD 200 million to USD 240 million, providing support to Peacock’s growth ambitions.

The SLL amendment, including specific sustainability terms advised and arranged by ING Bank NV, Singapore Branch as Sustainability Coordinator, links Peacock’s cost of finance to its ESG scorecard issued by EcoVadis. This proven mechanism supports Peacock’s ongoing actions to implement ESG principles across all aspects of its operations and business.

Jesse Vermeijden, Peacock’s Group CEO, says: “Closing the SLL, the first in our industry, is an important milestone for Peacock. Peacock takes a pro-active approach to sustainability, including, for example, spearheading the use of composite tank containers (which are lighter and better insulated and so reduce carbon intensity in use).

“We would like to thank our partners, ING Bank NV as well as our other lenders ABN AMRO Bank NV, Clifford Capital and TIAA, and our shareholder Arcus for their support through this process, with which we reiterate our long-term commitment to sustainability and to promoting best practices in all aspects of our business and operations. This is our first sustainability-linked financial arrangement, and probably not the last.”

Anju Abrol, ING’s head of Wholesale Banking APAC, said: “We are proud to act as sustainability coordinator for Peacock Container’s first SLL. This is truly a landmark in Peacock Container’s sustainability journey and demonstrates its strong commitment to a greener future. Sustainability is at the heart of what we do, and we continue to press full steam ahead to partner with like-minded companies, and create positive impact for the environment and the communities we are in.

Furthermore, the facility, closed at USD 200 million in June 2021, is now increased to USD 240 million via the accession of Clifford Capital into Peacock’s banking group. This development provides headroom to support Peacock’s ambitious growth plan in the coming period and strengthens the group’s international banking group, which also comprises ABN AMRO Bank NV, ING Bank NV, Singapore Branch and TIAA FSB.

Peacock’s CFO Charles-Hadrien Lassalle said: “We are very pleased with Clifford Capital joining our facility: its experience in the intermodal space, commitment to sustainability and footprint in Asia make it an ideal partner for us. Alongside our other lenders, we are well set to support the expansion of our fleet, servicing our growing client base globally.”

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21st April 2022