Guocoland Secures Two Green Facilities Dbs And Ocbc Refinance Its Properties
, doubling footprintGuocoLand secures $1.135 bil green facility to refinance Guoco Midtown – its largest to dateGuocoLand secures $1.135 billion green facility to refinance Guoco Midtown
Real estate developer GuocoLand has recently secured two green facilities from DBS Bank and Oversea-Chinese Banking Corporation (OCBC). The first facility is a $1.135 billion green loan for the refinancing of Guoco Midtown, while the second is a $105 million green loan for the refinancing of Midtown Bay.
This marks GuocoLand’s largest green facility secured to date, bringing its total green financing to about $5 billion. The company has previously secured green facilities for developments such as Guoco Tower, Lentor Mansion, Lentor Modern, Midtown Modern, and the upcoming Upper Thomson Road Development.
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These green facilities were raised under GuocoLand’s Green Finance Framework, which aims to promote sustainable development and responsible financing practices. The company’s Group CFO, Andrew Chew, states that this refinancing activity allows them to optimize their capital structure while staying committed to creating thoughtfully designed spaces that balance economic, environmental, and social factors.
Shares in GuocoLand closed at $1.45 on Jan 15 and the company continues to be a key player in the real estate market. With its focus on sustainability and responsible financing, it is set to contribute to the development of a more environmentally friendly and socially conscious industry.