Frasers Property secures green club loan for retail mall
The green loan was issued under Frasers Property’s Green Loan Framework, set by the LMA/APLMA Green Loan Principles offering guidelines on sustainability objectives
Frasers Property Limited together says that its indirect wholly-owned subsidiary, Frasers Property North Gem Trustee Pte. Ltd. has drawn down on a green club loan for its retail mall under the LMA/APLMA Green Loan Principles.
The net proceeds of the S$785 million (US$581.8 million) five-year term loan will be used to refinance existing loans relating to the development of Northpoint City South Wing. This green loan follows Frasers Property’s recent first green loan, which was secured for Frasers Tower last September.
Northpoint City South Wing is part of the largest integrated development in the north of Singapore, which includes a 920-unit private condominium, two retail mall wings with a combined net lettable area spanning more than 47,000 square metres, as well as multiple community spaces and green features.
Mandated lead arrangers & original lenders were: Oversea-Chinese Banking Corporation Limited; DBS Bank Ltd.; Bank of China Limited, Singapore Branch; and Sumitomo Mitsui Banking Corporation Singapore Branch.
As a neighbourhood amenities hub connected to the public transport network, the development encourages cycling as a low-carbon mobility option by providing over 500 sheltered bicycle parking lots. Visitors can easily cycle to and from Northpoint City as a last mile transportation solution, and continue their commute by walking, or riding on trains or buses.
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