DBS grants A$295m green loan to GIC

It is DBS’s first AUD-denominated green loan.

Australian wealth fund GIC was granted a A$295m ($284m) green loan from DBS, to be used for the refinancing of Chifley Tower Sydney.

The loan extended by DBS is the bank’s first AUD-denominated green loan.

It is also one of the largest green loans extended by a Singapore lender in the Australian market.

“Australia is ranked by the Global Real Estate Sustainability Benchmark as one of the greenest real estate markets in the world, and we see a lot of promise for DBS to support property players looking to raise sustainable financing to fund their continued investment in Australia,” Chew Chong Lim, head of Real Estate, Institutional Banking, at DBS, said.

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