It will refinance an existing debt facility due in 2020.
Frasers Property’s Australia business has secured its first corporate syndicated green loan in Australia, which is a A$600m five-year term loan that will be used to refinance an existing debt facility due in 2020, an announcement revealed.
To incentivise sustainable practices, the green loan has a reducing pricing structure with interest cost savings from the second year onwards if Fraser Property Australia’s five-star Global Real Estate Sustainability Benchmark (GRESB) ratings are maintained. This syndicated green loan in Australia is Frasers Property’s third green loan.
Previously, Frasers Property’s indirect wholly-owned subsidiary Frasers Property North Gem Trustee has clinched a green club loan worth $785m which will be used to refinance existing loans relating to the development of retail mall Northpoint City South Wing.
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