HSBC facilitates sustainable finance arrangement for Viyellatex Group

FE Team | Published: November 17, 2024 22:32:41

The Hongkong and Shanghai Banking Corporation Limited (HSBC) Bangladesh has recently structured a USD 65mn Sustainability Linked Loan for Viyellatex Group, a vertically integrated garment manufacturer and exporter based in Bangladesh, to support their sustainability priorities following global Loan Market Association principles.
The Group exports readymade garments to global apparel retailers and has a sustainable strategy, covering initiatives including underground water consumption, utility water, heat recovery and pollution prevention, says a press release on Sunday.
Commenting on the loan, David Hasanat, chairman and CEO, Viyellatex Group, said, "Viyellatex Group is deeply committed to advancing environmental, social, and economic sustainability across all aspects of our business."
Gerard Haughey, managing director and head of Wholesale Banking, said, "HSBC is proud to support Viyellatex Group in their environmental sustainability efforts, providing financial solutions aligned with their commitment to reducing carbon footprints and enhancing green practices throughout their supply chain."