Dutch bank ING has acted as the sole sustainability coordinator for a $260 million financing of Hong Kong-headquartered international lingerie and swimwear manufacturer Hop Lun, owned by US private equity firm Platinum Equity, according to a company release.
Hop Lun has converted its $260 million syndicated bank loan into a sustainability-linked loan SLL.
Hop Lun's SLL links the facility interest margin to improvements or deterioration in three key performance indicators. These include a reduction in greenhouse gas emissions, supplier engagement using the Higg Facility Environmental Module scores of the Higg Index developed by the Sustainable Apparel Coalition, and the gender balance of...
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