HSBC, the sole arranger for the facility, said it is the first green guarantee in the Middle East and North Africa region. The bespoke green facility comprises guarantees, import loans and documentary credits. HSBC has issued a trade finance facility, raising $48 million for UAE-based Lamprell to support work on the Seagreen Offshore Wind Farm project off the coast of Scotland. Daniel Howlett, HSBC’s regional head of Commercial Banking for the Middle East, North Africa and Turkey (MENAT), said: “This transaction demonstrates the commercial viability of green finance in the Middle East for issuers beyond sovereigns, financial institutions and the largest multinational corporations. (Writing by Brinda Darasha; editing by Daniel Luiz)brinda.darasha@refinitiv.comDisclaimer: This article is provided for informational purposes only.

Source: The North Africa Journal January 26, 2021 07:38 UTC