Krungthai and MINT enter into cross currency swap deal linked to decarbonization plan

Krungthai and MINT enter into cross currency swap deal linked to decarbonization plan

Krungthai Bank and Minor International Pcl (MINT) have successfully concluded a decarbonization-linked cross currency swap agreement. This strategic collaboration bolsters MINT’s commitment to manage foreign exchange and interest rate risks for its investment in NH Group. It also paves way for Krungthai Bank to provide financial support for advancing MINT’s decarbonization initiatives if the company successfully meets its decarbonization targets. The move underscores MINT’s dedication to sustainable business practices and its ambitious net-zero target.

Mr. Rawin Boonyanusasna, Head of Global Markets Group, Krungthai Bank, said Krungthai, as Thailand’s leading commercial bank, is dedicated to pioneering financial innovations and services that comprehensively cater to customer needs while remaining firmly aligned with sustainable development approach and supporting business objectives that prioritize environmental, social, and governance (ESG) dimensions as well as fulfilling net-zero commitments. “This collaboration underscores the unwavering commitment to responsible business practices of both Krungthai and MINT, which are leading organizations in Thailand, as they link the decarbonization and net-zero targets of the organizations as well as the country to the financial services provided by Krungthai Bank. This is in alignment with Goal 13 of the United Nations Sustainable Development Goals, which centers on climate action,” Rawin said.

Mr. Chaiyapat Paitoon, CFO of MINT, emphasized the company’s enthusiasm and readiness to actively pursue its net-zero objective. He emphasized the pivotal role that environmental, social, and governance (ESG) considerations play in propelling growth and enabling MINT to achieve its business and sustainability objectives. “In 2022, we exceeded our long-term sustainable goals by significantly reducing energy consumption, water usage, and carbon dioxide emission within our hotel operations by more than 20%. The decarbonization-linked Euro cross currency swap represents a crucial financial instrument to accelerate MINT’s progress toward realizing our sustainable objectives. We remain persistent with our commitment to mitigate the environmental impact, promote biodiversity conservation, and fully with our 2050 net-zero target.”