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Finance

Seafood giant Thai Union secures $400m in first sustainability loan

Canned tuna producer will enhance traceability to gain lower interest rate

Thai Union, which engages in the canned tuna, frozen seafood and other businesses, makes about 70% of its overall revenue in the U.S. and Europe. (Photo by Marimi Kishimoto)

BANGKOK -- Thai Union Group, the world's biggest canned tuna producer, has secured its first sustainability-linked loan of $400 million from a group of financial institutions, Nikkei Asia has learned. If the company achieves set targets such as strengthening the traceability of its seafood, the interest rate will be lowered by the lenders.

Thai Union, which engages in the canned tuna, frozen seafood and other businesses, makes about 70% of its overall revenue in the U.S. and Europe, where awareness of environmental, social and corporate governance, or ESG, factors is strong among retailers and consumers.

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