CapitaLand secures $323m green loans for projects in India

It will be used for the development of International Tech Parks in Chennai, Gurgaon, and Pune.

CapitaLand has secured three green loans in India totalling $323m (INR17b) from DBS Bank India and HSBC India, marking the group’s first foray in sustainable finance in the country, according to a press release.

The group will use the proceeds to finance the development of its green-certified International Tech Parks in Chennai, Gurgaon, and Pune.

DBS provided two of the green loans, a four-and-a-half-year $118.8m (INR6.25b) and three-year $80.8m (INR4.25b). It will reportedly be used to finance the development of Phase 1 of International Tech Park Chennai, Radial Road and Phase 1 of International Tech Park Gurgaon, respectively. 

Meanwhile, the four-year $123.5m (INR6.5b) green loan provided by HSBC India will be used to finance the development of International Tech Park Pune, Kharadi.