Baker McKenzie Wong & Leow and HHP Law Firm, the Singapore and Indonesia member firms of Baker McKenzie, have advised nickel mining and processing company Vale Indonesia on its USD750 million sustainability-linked loan.
The transaction marks Vale’s formal entry into the international syndicated loan market and is among the first sustainability-linked financings in the global resources and mining sector.
The cross-border Baker McKenzie team was led by Singapore finance and projects principal Kah Chin Chu and supported by local principal Simonette Santos and associate Terence Tim.
HHP acted as the Indonesian legal counsel to Vale, with the team comprising banking and finance partner Mita Guritno, senior associate Rahadiyan Prasetya and associate Aridiva Firdharizki, with support from foreign legal consultant Norman Bissett.
The facility was upsized from USD500 million to USD750 million following strong lender demand and being oversubscribed by 1.7 times. It was backed by a syndicate of 14 international banks, including UOB Indonesia, DBS Bank and Bank Mizuho Indonesia, and includes a USD250 million greenshoe option.
The transaction is expected to enhance Vale’s financial resilience, support the development of strategic projects and advance responsible mining practices in line with evolving global market expectations.
