Frasers Property secures A$500m green loan for two Singapore properties

FRASERS Property Limited has secured a A$750 million term loan, comprising a A$500 million green loan tranche and a A$250 million five-year tranche, the real estate developer said on Wednesday morning. The A$500 million tranche is Singapore’s first green loan with a pricing structure linked to the BCA Green Mark, said the company.

The proceeds from the five-year green loan tranche will be used to refinance existing loans in relation to two properties – Alexandra Point and 51 Cuppage Road. To incentivise sustainable practices, the green loan has a reducing pricing structure with interest cost savings from the second year onwards if the properties maintain the requisite green standards.

The group's earliest green loan was a S$1.2 billion syndicated green loan taken by Frasers Property in September 2018.

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