Frasers Property unit secures $785m green club loan

The net proceeds of the five-year term loan will be used to refinance the development of its Northpoint City South Wing mall.

Frasers Property’s indirect wholly-owned subsidiary Frasers Property North Gem Trustee has clinched a green club loan worth $785m, an announcement revealed.

According to Frasers Property, the green loan was drawn from a club of four banks comprising of Oversea-Chinese Banking Corporation (OCBC), DBS Bank, Bank of China’s Singapore Branch and Sumitomo Mitsui Banking Corporation Singapore.

Also read: Frasers Property Q1 profits surged 76.1% to $145.59m

The net proceeds of the five-year term loan will be used to refinance existing loans relating to the development of retail mall Northpoint City South Wing, the firm said. Northpoint City South Wing is part of the largest integrated development in the north of Singapore, which includes a 920-unit private condominium, two retail mall wings with a combined net lettable area spanning more than 47,000 sqm, as well as multiple community spaces and green features.

This green loan follows Frasers Property’s recent first green loan, which was secured for Frasers Tower in September 2018. This green loan was issued under Frasers Property’s Green Loan Framework, established under the LMA/APLMA Green Loan Principles, the firm noted.

Also Read

Expert forecasts continued rise in prime office rents

Singapore industrial rents rise 1.7% in Q1, prices dip for the first time in over three years

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit