Green Finance Deal of the Year

The $125 million Senior Unsecured Green Bond issued by Altera Shuttle Tankers L.L.C. last fall is awarded “Green Finance Deal of the Year 2019” by Marine Money.

The net proceeds from the bond issue will be used in accordance with Altera Shuttle Tankers’ Green Bond Framework for the financing or refinancing of E-Shuttle vessels. Under the Green Bond Framework, net proceeds are to be used to finance or re-finance, in whole or in part, projects and assets promoting the transition towards low-carbon, climate change resilient and environmentally sustainable economies. The E-shuttle vessels have been defined by the Norwegian government as low emissions vessels, which will incorporate all of the following Energy Efficiency and Pollution Prevention and Control measures making them the most environmentally friendly tankers built to date.

This green shipping bond is the first of its kind in the western hemisphere, and we are proud to be awarded the “Green Finance Deal of the Year” for it.