CapitaLand Mall Trust (CMT) and United Overseas Bank (UOB) will convert a S$200 million ($146 million) revolving credit facility extended to CMT into a sustainability-linked loan. Interest rates for the loan are tied to the company’s achievements in the annual Global Real Estate Sustainability Benchmark (GRESB) assessment, which measures the ESG performance of real estate and infrastructure investments across the world.
The loan follows CMT’s first S$200 million green loan, secured on 1 October 2019 from OCBC Bank, to finance or refinance Building and Construction Authority Green Mark-certified properties in its portfolio, which include Funan Mall and Westgate. CMT is firmly committed to sustainability and we are pleased to be able to capitalize on our ESG achievements to enhance our financial position, especially during these uncertain times.