Frasers Property secures first sustainability-linked loan for its UK business

The loan is worth $199.42m.

Frasers Property and its subsidiaries, Frasers Property UK Limited and Hillington Park, have jointly secured a $199.42m (£110m) five-year bilateral sustainability-linked loan. This transaction marks the first sustainability-linked loan for the group in the UK, in line with the Sustainability Linked Loan Principles dated May 2021 and updated in July 2021.

CFO Loo Choo Leong said, "With this transaction, we are continuing on our journey towards our goal of financing the majority of our new asset portfolio with green and sustainable financing by 2024. Being an early-mover in the UK real estate sector for sustainability-linked loans tied to a GRESB rating helps us raise sustainability ideals across our value chain."

This SLL is a bilateral facility from Maybank Singapore, which is also the sustainability-linked loan coordinator. Together with this SLL, the group, including subsidiaries and associated entities, has secured 25 green or sustainability-linked loans, and two sustainability bonds, raising more than $6b in total.

(£1 = S$1.81)