November 2018 - QPS signed first "Green Loan" with BNP Paribas
Quantum Pacific Shipping had a signing ceremony with BNP Paribas on 28th November 2018 for a US$40m Green Loan.
BNP Paribas is the lender, agent and security trustee for the Green Loan, which finances the cost of purchasing and installing marine exhaust gas cleaning systems (“Scrubbers”) for 16 vessels under the QPS fleet.
A Green Loan Framework has been prepared in conjunction with the bilateral Green Loan, and the framework was developed in alignment with the Green Loan Principles published in March 2018 by the EMEA Loan Market Association and the Asia Pacific Loan Market Association.
Vigeo Eiris (“VE”) was commissioned to provide an independent opinion on the sustainability credentials and management of the Green Loan. VE had expressed a reasonable assurance (their highest level of assurance) on QPS’ commitments and the Loan’s contribution to sustainability (full opinion as attached).