DSNG Obtains Impact Investment Loan
Jakarta, April 27th 2020 - PT Dharma Satya Nusantara Tbk. (DSNG) has signed a USD 30.0 million 10-year loan facility from Stichting andgreen.fund (&Green), a blended finance impact investment fund focused on financing sustainable commodity production to protect tropical forests. DSNG is a member of the Roundtable on Sustainable Palm Oil (RSPO) and is committed to managing, operating and producing certified, sustainable palm oil.
The long-term loan facility provides DSNG with the flexibility to diversify its sources of funding amidst a volatile global credit market that is impacted by the COVID-19 pandemic and demonstrates confidence in DSNG’s operations and management.
“This loan investment from &Green gives DSNG the confidence that our model for sustainable and inclusive palm oil production, which uplifts communities and preserves biodiversity, can be scaled up and enriched with the right financing partners,” explains Andrianto Oetomo, President Director of DSNG.
“We recognize that we have a responsibility to outperform - not only on our business performance - but also in terms of striving toward a net positive impact on the ecosystem that supports our businesses. We accept this challenge and are committed to tackle it with our new partners.”
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About DSNG (www.dsn.co.id)
PT Dharma Satya Nusantara Tbk was established on September 29, 1980 and has engaged in the palm oil and wood products industry ever since. The Company currently has 112,450 hectares of planted areas of palm oil plantations and 10 palm oil mills, with a total capacity of 570 tons per hour, that process Fresh Fruit Bunches (FFB) into Crude Palm Oil (CPO). As for the wood product business, the Company operates two wood processing plants in Central Java, which produces panels and engineered floorings.
About &Green (www.andgreen.fund)
&Green, incorporated as a Dutch Stichting, was established in 2017. It is a blended finance debt fund investing in commercial projects that can demonstrate decoupling of commodity production from deforestation, while being socially inclusive. &Green is focused on tropical forest jurisdictions that have progressive forest protection strategies and targets in place, and Indonesia is a core focus country. &Green’s targets sectors are the commodities that are driving deforestation such as palm oil, soy, rubber, beef, forestry and others. SAIL Ventures acts as &Green’s investment advisor.