In Hong Kong, DBS also provided Kwoon Chung Bus Holdings Limited with a HK$348m sustainability-linked loan, the first for the company, to support their effort to ensure that no less than 70% of their bus fleet will be more green in the next five years.Īnd in China, DBS also reportedly inked a RMB500m green supply chain financing contract with Huaneng Tiancheng Financial Leasing to provide financial leasing services for renewable energy projects. One key transaction is the Toyota Financial Services Singapore (TFSSG), a subsidiary of the financial services arm of Toyota Motor Corporation (Toyota), to which DBS provided a S$150m transition loan to grow its Electrified Vehicle sales in Singapore. The arranger conducts the credit assessment of the borrower, the syndication of the loan to the lenders, the appointment of the lenders' lead attorney and negotiation of the loan documentation. The money is used to finance the roll-out of green and transition strategies such as the promotion of renewable energy projects, green buildings, and decarbonisation measures, according to DBS. Arranger The financial institution that arranges for a loan between a borrower and a syndicate of lenders. The number is almost double the bank’s 2020’s figure of $2.53b across 16 deals. Throughout the year, the Singapore bank reportedly extended $4.86b worth of green and sustainability-linked syndicated and club loans across 40 deals, according to Debtwire. The unit manages a large, diverse portfolio that includes investments in all asset classes across the energy sector.The bank extended $4.86b in green syndicated and club loans across 40 deals.ĭBS Bank has ranked as the top green and sustainability-linked mandated lead arranger in Debtwiree’s Asia Pacific (excluding Japan) loans league table for 2021. Power and Energy, part of CIT's Commercial Finance division, leverages its deep industry knowledge and expertise to offer comprehensive financing solutions for renewable and conventional power generation. power and renewables projects, according to league tables compiled by Inframation, an Acuris company.Įarlier this year, CIT received a Stevie American Business award for achievement in banking management in recognition of its continuing success in financing renewable power projects and utility-scale battery storage projects across the U.S. “We look forward to continuing to serve our clients with the financing they need to develop renewable power generation, support economic development and create a cleaner, more sustainable environment for everyone,” Lorusso added.ĬIT consistently ranks among the top banks in leading financing for U.S. “We’re proud to receive this recognition from Power Finance & Risk, itself a recognized leader in the field. “In recent years, our Power and Energy team has done exceptional work in leading financings for some of the biggest and most innovative renewable power projects in the nation,” said Mike Lorusso, who leads Power and Energy as Managing Director and Group Head. “We are honored to receive this Renewable Energy Lead Arranger of the Year Award in recognition of CIT’s expertise and agility in supporting clients in leading financings for clean energy projects across the U.S.,” said David Harnisch, President of CIT’s Commercial Finance division, which includes the Power and Energy group. The award is granted for excellence and innovation while serving as lead arranger in financing renewable energy projects for a variety of clients, the magazine said. announced its Power and Energy business was named Renewable Energy Lead Arranger of the Year by Power Finance & Risk, a top publication covering the energy project finance industry.ĬIT’s Power and Energy business was selected by the Power Finance & Risk editorial team based on its independent research and industry insights.
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