This raises the green loans portion of Fraser Centrepoint Trust’s portfolio to 18%.
Sapphire Star Trust, property owner of the Waterway Point, has sealed its first green loan, worth $589m, Frasers Centrepoint Asset Management Ltd. (FCAM) announced.
Fraser Centrepoint Trust (FCT) owns a 40% interest of the property, which is also managed by the Fraser Property Group.
“We aim to finance the majority of FCT’s sustainable asset portfolio with green and sustainable financing by 2024,” FCAM CEO Richard Ng said.
With the completion of the green loan for Waterway Point, the proportion of green loans in FCT’s portfolio is now lifted to approximately 18%. We will continue to work with our partnering banks to achieve our sustainability goals.”
The loan is a five-year Singapore overnight rate average-based secured term loan and an uncommitted revolving loan facility. It is arranged by the Sumitomo Mitsui Banking Corporation Singapore branch and the United Overseas Bank Limited.
The loan will be used to refinance existing borrowings, for working capital and general corporate funding requirements of the Sapphire Star Trust.
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