CapitaLand has obtained a S$500 million sustainability-linked loan from United Overseas Bank (UOB).The loan is the largest sustainability-linked bilateral loan in Singapore’s real estate sector, said the company in a statement.
In total, CapitaLand and its real estate investment trusts have raised over S$2.42 billion in less than two years, through sustainable financing instruments, reinforcing the Group’s commitment towards responsible growth.
The four-year S$500 million sustainability-linked loan from UOB is CapitaLand’s fifth sustainability-linked loan, the highest number of sustainability-linked loans obtained by a real estate company in Singapore. To date, CapitaLand has partnered with seven financial institutions to secure a total of 12 sustainable financing instruments comprising sustainability-linked loans, green loans and green bond.
“Integrating CapitaLand’s ESG performance with our financial metrics demonstrates the Group’s longterm focus on sustainability and responsible growth. CapitaLand continues to step up our ESG efforts and sustainable finance as they have delivered tangible returns for the Group. Through the sustainability-linked loans, CapitaLand has been able to capitalise on our achievements in ESG and add resilience to our capital position. Notwithstanding the current economic climate, we have raised S$1.5 billion in 2020 through sustainable finance. It is testament to the trust that our financial partners have in CapitaLand. With the support of our partners like UOB for our sustainable financing efforts, CapitaLand will continue to shape a sustainable built environment and enhance the communities we operate in,” said Andrew Lim, Group Chief Financial Officer, CapitaLand Group.