Stephenson Harwood (Singapore) Alliance has advised a syndicate of lenders – comprising ABN AMRO Bank, ING Bank, TIAA FSB and Clifford Capital – on a sustainability-linked loan. The deal involves the upsize and conversion of a US$200 million senior secured financing facility to the Peacock Container Group (Peacock), with stakeholders ultimately closing a US$240 million senior secured sustainability-linked financing facility.

This is the first financing deal of its kind in the tank leasing industry, and is part of Peacock's approach to better align its financing strategies with its long-term sustainability goals and values. The loan included specific sustainability terms, linking Peacock's cost of financing to its ESG scorecard issued by EcoVadis. This supports its ongoing actions to implement ESG principles across all aspects of its operations and business.

Peacock is an ISO tank container leasing company, headquartered in Singapore and the Netherlands, which owns and operates a fleet of over 18,000 tank containers with capacities between 14,000 and 35,000 litres.

The team was led by partner Gregory Xu, who was supported by partner Jason Yang, associates Angeline Yap, and paralegal Sylvia Lisa.