Starhill Global REIT secures first sustainability-linked facility for $50m

The facility will be used to finance requirements to attain green certification.

Starhill Global REIT and DBS Bank Ltd. entered into a facility agreement for a five-year unsecured sustainability-linked multicurrency revolving credit facility of $50m.

This will replace its existing revolving credit facility with DBS for the same amount expiring in June 2024. 

It is the first sustainability-linked facility granted to Starhill Global REIT available for drawing from January 2024.

It will be used to finance its general corporate funding requirements including capital expenditure to attain green certification for Starhill Global REIT’s portfolio of properties..

Under the terms of the facility agreement, DBS has the right to require Starhill Global REIT to repay all amounts should a “Change of Control Event” occur. This is pursuant to Rule 704(31) of the SGX Listing Manual.