M&T Investments misses notes’ ESG target; interest rate steps up

By Mary-Katherine Stinson

Lexington, Ky., Feb. 26 – M&T Investments Pte. Ltd. said it failed to reach the 2023 GHG emission intensity performance target relating to its two series of secured sustainability-linked notes due March 25, 2026, leading to a step-up event having occurred on Feb. 25.

The interest rate of the S$109 million of 2.85% class A1 secured sustainability-linked notes due 2026 (ISIN: XS2466357816) and S$36 million of 3.652% class A2A secured sustainability-linked notes due 2026 (ISIN: XS2466357907) will be increased by 10 basis points effective Feb. 25.

The interest rate will be 3.05% for the class A1 notes and 3.852% for the class A2A notes.

The notes are listed on the bonds market of the Singapore Exchange Ltd.

The financial services company is based in Singapore.

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