Bmo Works With Leading Containership Leasing Company Seaspan Corporation To Align Financing To Decarbonization Goals
Bmo Works With Leading Containership Leasing Company Seaspan Corporation To Align Financing To Decarbonization Goals
02/17/22, 8:30 AM
Location
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 Info
Location
toronto, ontario, canada
Additional Info
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