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Singapore REIT secures sustainable loan

24th April 2024

OUE Real Estate Investment Trust has arranged a new S$600 million ($441 million) sustainability-linked loan (SLL).

The proceeds from the new unsecured facility will be used for the Singapore REIT’s early refinancing of S$540 million existing secured borrowings. OCBC was the sole mandated lead arranger and bookrunner, as well as the sustainability coordinator for the transaction.

This facility is OUE REIT’s first SLL tied to new sustainability performance targets announced earlier this year. The previous goal, which was based on energy intensity, was replaced with a more ambitious aim of achieving a 40% reduction in absolute greenhouse gas emissions for its commercial properties from 2023 levels.

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