Thai Beverage Plc (ThaiBev) continues to embed sustainability into its capital strategy through a 6.5-billion-baht sustainability-linked loan (SLL) from Bank of Ayudhya Plc (Krungsri).
Krungsri and Mitsubishi UFJ Financial Group acted as the joint sustainability structuring advisors.
The transaction marks the third consecutive SLL between ThaiBev and Krungsri, building on the company's inaugural 10-billion-baht SLL in 2024 and a subsequent 5-billion-baht facility in 2025.
The arrangement reflects ThaiBev's continued commitment to integrating sustainability into its capital strategy and strengthens its partnership with Krungsri to advance sustainable finance.
The third SLL directly links financing costs to ThaiBev's performance against clearly defined sustainability performance targets (SPTs), with loan margins adjusted based on the achievement of those targets.
The SPTs include reducing Scope 1 and Scope 2 greenhouse gas emissions by 42% by 2030 from a 2023 baseline, and increasing renewable energy consumption to 50% of total energy use by the same year.
Established under the company's sustainability-linked finance framework, the SPTs align with ThaiBev's Science Based Targets initiative, a validated decarbonisation pathway that reinforces the credibility of the company's sustainability commitments and underscores its science-based approach to climate action, the company said.
To provide independent validation of its sustainability-linked finance framework, ThaiBev appointed Morningstar Sustainalytics to issue a second-party opinion. The assessment confirmed the framework aligns with the SLL principles and that the company's key performance indicators and SPTs are relevant, material and impactful within the context of its environmental, social and governance (ESG) strategy.
Tongjai Thanachanan, executive vice-president and chief of sustainability and strategy at ThaiBev, said that as the company expands its SLL programme, it remains focused on delivering measurable environmental progress while strengthening business resilience and creating lasting value for all stakeholders.
Prakob Phiencharoen, head of corporate and investment banking at Krungsri, said the third SLL reflects a shared commitment to advancing sustainable finance and reaffirms Krungsri's role in delivering tangible sustainable financing solutions that help clients integrate ESG into their business strategies and navigate evolving sustainability challenges.
