Thai Union Group Public Company Limited (TU), the world’s seafood leader, was recognized at the Business+ Product of the Year Awards for its leadership in Blue Finance. Yongyut Setthawiwat, Managing Director, Group Treasurer – Treasury and Finance Shared Serviced Department – represented Thai Union Group at the awards ceremony.
Thai Union has been paving the way for Blue Finance in Thailand. In February this year, Thai Union launched its inaugural Sustainability-Linked Loan (SLL) of THB 12 billion equivalent, which was followed in July by the successful pricing of its THB 5 billion 7-year Sustainability-Linked Bond (SLB) for institutional investors – the first SLB in Thailand. In November, the company successfully issued 5-year and 10-year tranche SLBs totaling THB 6 billion to diversify the institutional investor base. These are significant steps forward for Blue Finance—financing that has sustainability targets to benefit the oceans – where interest rates are linked to key performance indicators and sustainability performance targets.
The Product of the Year Awards are hosted by Business+ Magazine and the College of Management, Mahidol University, and given for outstanding products and services developed to meet the needs of today’s consumers.