Baker McKenzie Wong & Leow Advises on USD 1 billion Sustainability-Linked Syndicated Term Loan Facility for Aster

Baker McKenzie Wong & Leow, the Singapore member firm of Baker McKenzie, has advised DBS Bank Ltd. (DBS) and OCBC Bank as mandated lead arrangers, underwriters and bookrunners for a USD 1 billion sustainability-linked syndicated loan (SLL) facility for Aster Chemicals & Energy Pte. Ltd. (Aster).

The facility, which closed on 15 September 2025, reflected robust demand from leading banks across Singapore, Indonesia, Thailand, the UAE, Japan, and Sri Lanka. DBS and OCBC also acted as Sustainability Coordinators, ensuring alignment of the facility with Aster Group's Environmental, Social, and Governance (ESG) objectives. The SLL is directly linked to measurable reductions in Greenhouse Gas (GHG) emissions intensity.

Proceeds from the facility will support Aster's general corporate purposes, including rejuvenation projects for its assets on Pulau Bukom and Jurong Island.

The Baker McKenzie Wong & Leow team was led by Banking & Finance Principal Emmanuel Hadjidakis, supported by Local Principal Dawn Ho and Associate Qingxun Lin.

This transaction adds to Baker McKenzie's growing portfolio of high-profile syndicated loan deals in the region, including the USD 4.2 billion loan for Gulf Energy Development Public Company Limited and Intouch Holdings Public Company Limited and a syndicate of eight foreign lenders as well as the USD 4.5 billion SLL facility for Syngenta Group (HK) Holdings Co. Ltd.

Baker McKenzie was recognized as the "Syndicated Corporate Loan Law Firm of the Year" at this year's Asia Pacific Loan Market Association's (APLMA's) Asia Pacific Syndicated Loan Market Awards.