Baker McKenzie Advises PT Vale Indonesia Tbk on its Landmark USD 750 Million Sustainability-Linked Loan

Baker McKenzie Wong & Leow, the Singapore member firm of Baker McKenzie, has advised PT Vale Indonesia Tbk ("PT Vale") on its USD 750 million sustainability-linked loan, making this one of the first sustainability-linked financings in the global resources and mining sector. This syndicated loan facility also marks PT Vale's inaugural entry into the international syndicated loan market. HHP Law Firm ("HHP"), the Indonesia member firm of Baker McKenzie, acted as the Indonesian legal counsel to PT Vale on the transaction.

The financing, which comprises a USD 500 million facility with an upsizing feature, was fully upsized to USD 750 million following strong lender demand and oversubscription. As detailed in PT Vale's press release, the sustainability-linked loan facility is a crucial step in PT Vale's financial resilience and strategy while being aligned with its commitments to environmental sustainability and social responsibility. The transaction was closed on 23 April 2026.

The cross-border Baker McKenzie team was led by Singapore Finance & Projects Principal Chu Kah Chin, supported by Local Principal Simonette Santos and Associate Terence Tim, together with the HHP team comprising Jakarta Finance & Projects Principal Mita Guritno, Senior Associate Rahadiyan Prasetya and Associate Aridiva Firdharizki, with support from Foreign Legal Consultant Norman Bissett.

Baker McKenzie's Finance & Projects practice advises sponsors, developers, lenders - including development finance institutions, export credit agencies, commercial lenders and alternative financial institutions - as well as investment funds, governments and governmental agencies on complex project financings worldwide. The team works across a broad range of sectors, including renewable energy, upstream and downstream oil and gas, conventional power, transportation, water and wastewater and social infrastructure, and regularly supports transactions involving limited-recourse structures, capital markets issuances, Islamic finance, sustainable finance, leasing arrangements and related hedging solutions.