MCT secures $670m green club loan to finance MBC II buy

It marks the company’s first step to green financing.

Mapletree Commercial Trust (MCT) has secured its first $670m green club loan to partly finance its acquisition of Mapletree Business City Phase 2 (MBC II), an SGX filing revealed.

Also read: MBCII buy to boost Mapletree Commercial Trust's DPU by up to 6%: analyst

Completed in 2016, MBC II has been designed with environmentally friendly features and has been certified BCA Green Mark Platinum, BCA Universal Design Mark Platinum Award and LEED Gold.

MCT said that the loan marks its step to green financing. DBS and OCBC acted as the green loan coordinators. The other club banks are Bank of China Singapore, Citibank N.A. Singapore and Sumitomo Mitsui Banking Corporation Singapore.

Currently, all of MCT’s existing properties have received BCA Green Mark certifications, most of which are rated at the top two categories.

MCT has earlier established a green loan framework which is guided by the Green Loan Principles (2018) published by the Loan Market Association and the Asia Pacific Loan Market Association. The framework outlines the criteria and guidelines for MCT to allocate and manage the proceeds raised as green loans.

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