This is the group’s fifth green loan and it will use the proceeds from the tranche to refinance existing loans in relation to two green properties – Alexandra Point and 51 Cuppage Road.
Alexandra Point, recognised as one of Singapore’s first green building, is a 24-storey office building with a BCA Green Mark Platinum rating, while 51 Cuppage Road is a 10-storety office building with a BCA Green Mark Gold rating. Both buildings are fitted with efficient lighting, water and air-conditioning systems.
Loo Choo Leong, group CFO of Frasers Property, says, “Frasers Property has been a key participant in the green loan market in Asia Pacific and continues to break new ground in this space. This green loan is yet another step in our green financing journey, which commenced with Southeast Asia’s first syndicated green loan obtained by Frasers Property’s indirect wholly-owned subsidiary in September 2018. Green financing is an integral part of our capital management strategy as it not only aligns our capital structure with our business’ focus on sustainability, it helps diversify our funding sources as well.”
As at 11.25am, shares in Frasers Property are trading at $1.83.