ING coordinates landmark US$790m sustainability-linked loan for Goodpack

Singapore, 23 October 2023 – ING has acted as the Sole Sustainability Coordinator for a US$790 million financing of Singapore-based sustainable supply chain solution provider Goodpack.

The sustainability structure for Goodpack, designed by ING, linked the company’s EcoVadis ESG rating score to the margin on its financing. ING was able to present an innovative solution by tapping on its Sustainable Finance, Acquisition Finance, and Transport and Logistics sector expertise to provide specific targets unique to the logistics sector that are meaningful, relevant, and ambitious.

Anju Abrol, ING’s CEO and head of Wholesale Banking APAC, said: “This transaction represents the largest single Sole Sustainability Coordinator mandate for our Acquisition Finance team across our global network to date, reflecting significant sustainable finance progress in APAC. We expect such market-leading transactions to pave the way for more private sector interest in sustainable finance as the market matures in APAC.”

Goodpack, which was acquired in 2014 by a fund managed by global investment firm KKR, is the world’s largest provider of reusable metal intermediate bulk containers on a pay-per-use basis to companies transporting their valuable payloads globally by road, rail, or sea. The company is committed to creating circular supply chains in sectors including rubber, chemical, automotive, food and beverage, and other industrial and consumer goods. Today, it maintains a fleet of 4.3 million containers spread across 5,000 delivery and collection points worldwide.

Society is transitioning to a low-carbon economy. So are our clients, and so is ING. We finance a lot of sustainable activities, but we still finance more that’s not. See how we’re progressing on Opens in a new tabing.com/climate.