StorHub bags $180m sustainability-linked loan
It is Asia’s first sustainability-linked loan in the self-storage sector.
Singapore’s StorHub has secured a $180m sustainability-linked loan (SLL) from CIMB and UOB, marking the first for Asia’s self-storage sector.
The loan features a sustainability-linked margin adjustment tied to two Key Performance Indicators (KPIs) of the environmental performance of StorHub’s 13 properties in Singapore.
Since 2003, StorHub has spanned about 440 stores in Asia, with over 6.4m sq ft of GFA and more than 70,000 storage units across Australia, Greater China, Japan, Malaysia, Singapore, and South Korea.
Mike Hagbeck, Group CEO of StorHub, said, “This loan exemplifies our steadfast commitment to building a sustainable future and reflects the trust that CIMB and UOB have placed in us to make a positive impact on the environment. We believe that prioritizing sustainability will ultimately create value for our customers, investors, partners, and communities.”