CapitaLand secures $300m sustainability-linked loans
It will be used for green projects and general corporate purposes.
CapitaLand inked sustainability-linked loan agreements with Credit Agricole Corporate & Investment Bank, Natixis Bank and Societe Generale to raise a total of $300m.
According to an announcement, CapitaLand has the flexibility to use the sustainability-linked loans on green projects such as the installation of solar panels, as well as for general corporate purposes. The five-year multicurrency sustainability-linked loans will see interest rates reduced based on CapitaLand’s achievements of environmental, social and governance metrics.
“After securing the first and largest sustainability-linked loan in Asia’s real estate sector last year, we are now even more convinced that good sustainability practices can reap positive tangible benefits for business. Together with Credit Agricole Corporate & Investment Bank, Natixis Bank and Societe Generale, we hope to demonstrate that financial returns can be in sync with the interests of our environment and the community,” Andrew Lim, group CFO, CapitaLand Group, said.
The announcement reported that CapitaLand is the first company in Asia to partner with Societe Generale for a sustainability-linked loan. It is also the first real estate partner in Asia for Credit Agricole Corporate & Investment Bank and Natixis for a sustainability-linked loan.
It was in October when the firm secured its first $300m sustainability loan from DBS.