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Bmo Works With Leading Containership Leasing Company Seaspan Corporation To Align Financing To Decarbonization Goals

Feb 17, 2022•over 3 years ago
Toronto

Description

BMO Financial Group (TSX:BMO) (NYSE:BMO), acting as lead sustainability structuring coordinator in a syndicate of Canadian, U.S. and European banks, has announced a financing deal with Seaspan, a leading containership leasing company. An amendment to an existing credit facility, the deal introduces a margin adjustment incentive mechanism tied to the alignment of the carbon intensity of Seaspan's vessels with the International Maritime Organization's 2050 decarbonization trajectory. The deal also incorporates sustainability-linked provisions into charter contracts, creating a value chain approach to decarbonization.

Company Information

Company

Bmo Financial Group

Location

Toronto, Ontario, Canada

About

Serving customers for 200 years and counting, BMO is a highly diversified financial services provider - the 8th largest bank, by assets, in North America. With total assets of $988 billion as of October 31, 2021, and a team of diverse and highly engaged employees, BMO provides a broad range of personal and commercial banking, wealth management and investment banking products and services to more than 12 million customers and conducts business through three operating groups: Personal and Commercial Banking, BMO Wealth Management and BMO Capital Markets. SOURCE BMO Financial Group