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UOB Strengthens PT Vale Indonesia's Sustainable Finance Strategy with a US$750 Million Syndicated Loan
Signing ceremony of US$750 million Sustainability-Linked Loan for PT Vale Indonesia (PT Vale) with Mr Budiawansyah Kartadinata, Chief Sustainability and Corporate Affairs Officer, PT Vale; Mr Rizky Andika Putra, CFO, PT Vale; Mr Bernardus Irmanto, CEO, PT Vale; Mr Hendra Gunawan, CEO, UOB Indonesia; Mrs Reni Arfiani Astuti, Head of Financial Institution Group, DBS Indonesia; and Mr Ken Matsuo, President Director, Mizuho Bank Ltd.
Jakarta, 23 April 2026 – UOB successfully led a significant milestone for PT Vale Indonesia (PT Vale) with US$750 million Sustainability-Linked Loan (SLL) with an additional US$250 million greenshoe option, marking PT Vale’s first sustainable loan structured in the U.S dollar market and the first sustainable-linked financing for a mining company in Southeast Asia in 2026.
UOB led the role as the Sole Coordinator and Sole Sustainability Coordinator, partnering with DBS Bank and Mizuho Bank as Mandated Lead Arranger, Bookrunner and Underwriter (MLAUB). The transaction garnered strong support from the market with 1.7 times oversubscription from 14 global lenders, reflecting strong market confidence in PT Vale’s business fundamentals and sustainability-driven strategy.
“As Southeast Asia’s nickel sector continues to evolve, the role of well-structured transition financing becomes increasingly critical. This transaction reflects our commitment to aligning financing structures with measurable sustainability objectives, while supporting Indonesia’s broader industrial and energy transition priorities,” stated Mr Harapman Kasan, Wholesale Banking Director, UOB Indonesia.
The facility mirrors UOB’s 2050 net zero commitment, supported by the Bank’s deep regional connectivity and cross-border capabilities. The SLL financial structures have been aligned internationally recognised Sustainability-Linked Loan Principles, supporting transition to a lower-carbon economy across ASEAN and beyond.
