Singaporean transportation major ComfortDelGro has secured a green loan facility from DBS Bank, while US-based investment management firm Wellington Management has announced a partnership with Standard Chartered Private Bank.
ComfortDelGro secures green loan facility from DBS Bank
SGX-listed ComfortDelGro has secured a S$100 million ($73 million) loan facility from Singapore-based DBS Bank to finance the greening of its bus fleet in the UK.
In a statement, the two firms said the proceeds of the green loan were used to acquire 135 electric buses for Metroline, ComfortDelGro’s wholly-owned subsidiary. Metroline is London’s fourth-largest scheduled bus operator.
The green loan is the latest in ComfortDelGro’s ongoing efforts to transition its global bus fleet to 50% cleaner energy vehicles by 2030 and 100% by 2050, per the announcement.
“This green loan from DBS enables us to advance our sustainability goals, driving positive impact for the environment and the communities we serve,” said Cheng Siak Kian, Managing Director and Group CEO of ComfortDelGro.
ComfortDelGro is one of the world’s largest land transport companies with a total fleet size of about 34,000 buses, taxis, and rental vehicles. It also runs 177 km of light and heavy rail networks in Singapore and New Zealand and will operate another 33 km in France next year.
Wellington to tap StanChart clients in SG, HK
US-based investment management firm Wellington Management has announced a partnership with Standard Chartered Private Bank to offer its Credit Total Return strategy to clients in Singapore and Hong Kong, starting this month.
The deal will give Standard Chartered’s client base access to Wellington’s long-only cash and bond strategy managed by Connor Fitzgerald, a seasoned member of Wellington’s Investment Grade Credit Team.
Initially, the strategy will be available exclusively to Standard Chartered’s private banking clients from April to May 2024 and to its retail banking clients from June to August 2024.
“With interest rates at their highest levels since the Global Financial Crisis, investors have a renewed appetite for fixed income investing due to the stability of returns and potential income opportunities,” said Elizabeth Chisholm, Head of Client Group, Asia Pacific, at Wellington.
