In brief: Quadria secures ‘social loans’ credit facility

The Singapore-based healthcare investors was an early mover in ESG-linked fund finance: it is once again breaking new ground.

Quadria Capital, a Singapore-based healthcare private equity firm, was an early mover in sustainability-linked fund finance, having secured its first ESG-linked fund finance facility in 2019. It looks like the firm is once again breaking ground, having secured a $200 million revolving “social loans” credit facility, the firm said on Thursday.

Investments are considered social loans if they improve access to essential services such as healthcare, support food security and sustainable food systems, and socioeconomic advancement, among other criteria, the firm said in a statement.

HSBC Singapore and ING Singapore Branch are the lenders, with the latter acting as sole social coordinator. $77 million from the facility has already been used for India’s Maxivision Eye Hospital as it met a principal social loan criterion: improving access to healthcare services in underserved communities.

In the firm’s words: “Quadria’s portfolio companies using these funds will report on pre-approved metrics to demonstrate the social impact of the firm’s investment. In the case of Maxivision, the metrics include effective coverage for the elderly population, availability and training of healthcare professionals, number of doctors and installed beds, healthcare costs, accreditation of facilities and eye care awareness initiatives, among many others.”