Ascendas India Trust secures maiden S$100 million sustainability-linked loan from UOB

Securing the Trust's maiden sustainability-linked loan facility is testament to the Trust's effort in minimising its environmental footprint
By: CapitaLand
 
CENTRAL, Singapore - April 13, 2021 - PRLog -- Ascendas Property Fund Trustee Pte. Ltd., the Trustee-Manager of Ascendas India Trust ("a-iTrust" or the "Trust"), is pleased to announce that it has successfully obtained a five-year S$100 million unsecured sustainability-linked loan facility from UOB.

The facility is a-iTrust's first sustainability-linked loan. The Trust intends to use the proceeds from the loan for general corporate and working capital requirements, including refinancing existing borrowings, the redevelopment of properties, acquisitions, capital expenditure or asset enhancement works of the Trust's properties.

The facility features a 2-tier incentive mechanism where a-iTrust is entitled to an interest rate reduction when predetermined sustainability performance targets are met.

Mr. Sanjeev Dasgupta, Chief Executive Officer said, "a-iTrust considers sustainability as a key driver of its value creation strategy. This is implemented through various initiatives towards the environmental and social well-being of the communities where it operates.

Securing the Trust's maiden sustainability-linked loan facility is testament to the Trust's effort in minimising its environmental footprint. The Trust is committed to continuously increase the proportion of its properties which are certified "Gold" or "Platinum", amidst the Trust's plans to grow its portfolio. In doing so, it is also able to achieve a lower cost of borrowing for the Trust. This is also in line with CapitaLand Group's overall green building rating targets of achieving green certifications for all new and existing buildings in its portfolio by 2030."

Mr Leong Yung Chee, Head of Group Corporate Banking, UOB said, "At UOB, we are focused on collaborating with our clients on their sustainability goals. In 2020, we provided the largest sustainability-linked bilateral loan in Singapore's real estate sector to CapitaLand Group. Today, we continue to build on that relationship through our support of a-iTrust, a leading listed property trust managed by the Group. The sustainability-linked loan to a-iTrust is tied to the Environmental, Social and Governance performance of a portfolio of buildings in India, making it the first of its kind in Singapore. This marks another milestone in the way we work with our clients to help advance their sustainability goals and we look forward to our continued collaboration."

More: https://www.capitaland.com/international/en/about-capital...

Contact
Debra Chan
***@capitaland.com
End
Email:***@capitaland.com
Tags:India
Industry:Real Estate
Location:Central - Singapore - Singapore
Account Email Address Verified     Account Phone Number Verified     Disclaimer     Report Abuse
Ascendas India Trust News
Trending
Most Viewed
Daily News



Like PRLog?
9K2K1K
Click to Share