Singaporean offshore rig builder Seatrium’s Estaleiro Jurong Aracruz in Brazil has refinanced a maturing loan facility with an ESG-linked $500m loan from Singapore’s Standard Chartered Bank.

Seatrium said the shipyard’s new debt facility has “an innovative sustainability-linked conversion option” that is aligned with the Loan Syndications and Trading Association’s Sustainability-Linked Loan Principles covering finance tied to environmental, social and governance (ESG) factors.