GuocoLand secures S$730 mil of green loan for Guoco MidtownGreen property: Eco-conscious tenants anchor growth of green buildings in Singapore’s CBDSINGAPORE (Jan 18): GuocoLand, one of Singapore’s leading property developers, has secured two green facilities from DBS Bank and Oversea-Chinese Banking Corporation (OCBC) for the refinancing of its integrated development, Guoco Midtown.
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The $1.135 billion green facility from DBS Bank is the largest green financing secured by GuocoLand to date. It will be used to refinance Guoco Midtown, which is GuocoLand’s flagship development in Singapore.
In addition, the company has also secured a $105 million green facility from OCBC for the refinancing of Midtown Bay, an exclusive residential development within Guoco Midtown.
Both green facilities were raised under GuocoLand’s Green Finance Framework, which outlines the company’s commitment to sustainability and responsible development. To date, the company has secured about $5 billion of green financing, including green facilities for Guoco Tower and other developments such as Lentor Mansion, Lentor Modern, and the upcoming Upper Thomson Road Development.
According to Andrew Chew, Group CFO of GuocoLand, this latest refinancing activity allows the company to optimize its capital structure while staying true to its commitment to creating thoughtfully designed spaces that balance economic, environmental, and social factors.
Shares in GuocoLand closed flat at $1.45 on Jan 15.