Home News Green loans

Keppel Land signs sustainability-linked, SORA-pegged loan with DBS

Felicia Tan
Felicia Tan6/1/2021 06:01 PM GMT+08  • 3 min read
Keppel Land signs sustainability-linked, SORA-pegged loan with DBS
The SORA-based loan is the first for the group.
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

Keppel Land has signed its first sustainability-linked loan from DBS Bank on June 1. The $150 million facility references the Singapore Overnight Rate Average (SORA), making it the first such loan for the group.

The loan follows Keppel Land’s first green loan facility of RMB850 million ($176.4 million) secured in 2019 for the development of Seasons City (Phase 1) in the Sino-Singapore Tianjin Eco-City in China.

The facility’s interest rate comprises a compounded daily SORA rate calculated in arrears and an applicable margin. The loan also incorporates interest rate reductions linked to pre-determined environmental, social and governance (ESG) targets such as Keppel Land achieving a five-star rating in the 2021 Global Real Estate Sustainability Benchmark (GRESB) real estate assessment.

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.
Unlock unlimited access to premium articles with less than $9 per month. Subscribe Now