The Manager has also established a Green Loan Framework as it seeks to grow its green funding sources
Copy Link
Keppel REIT Management Limited (Keppel REIT Management), as Manager of Keppel REIT, wishes to announce that Keppel REIT1 has obtained an unsecured S$150 million green loan facility from OCBC Bank. This is Keppel REIT's second green loan facility, following a S$505 million green loan facility2 obtained in June this year.
This latest green loan facility can be used to finance or re-finance eligible green projects as well as fund the further growth of Keppel REIT's green building portfolio. At the same time, the Manager has also established the Keppel REIT Green Loan Framework, which is in line with the Green Loan Principles (2018) administered by the Loan Market Association and the Asia Pacific Loan Market Association. The Green Loan Framework comprises four core elements that relate to the use of proceeds, project evaluation and selection process, management of proceeds as well as reporting process.
Mr Paul Tham, CEO of the Manager, said, "Sustainability is a key tenet of Keppel REIT's strategy. This commitment extends beyond upholding high environmental standards at our properties, but also covers our financing. Our Green Loan Framework will provide a clear and structured guide for Keppel REIT as we grow our proportion of green funding sources in our continued drive to build a sustainable future."
Ms Elaine Lam, Head of Global Corporate Banking, OCBC Bank, said, "Keppel REIT is a clear leader in embedding sustainability principles in its business strategies and operations with its commitment on green building standards and time-bound target to reduce its environmental footprint. We are proud to advise Keppel REIT on its Green Loan Framework and the first green loan under this Framework. It is part of our ongoing focus to support our corporate customers who are dedicated to making a positive impact on the environment, and to sustainable development."
All of Keppel REIT's Singapore assets are certified Platinum under the Building and Construction Authority's Green Mark Scheme. In Australia, most of Keppel REIT's operational buildings have achieved the 5 Stars National Australian Built Environment Rating System (NABERS) Energy rating. Keppel REIT's commitment to sustainability has also been recognised with its inclusion into the iEdge SG ESG Transparency Index and the iEdge SG ESG Leaders Index.
- End -
1 Through Keppel REIT Fin. Company Pte. Ltd., a wholly-owned subsidiary of Keppel REIT.
2 Ocean Properties LLP, which is an approximately 79.9% owned subsidiary of Keppel REIT, obtained the S$505 million green secured loan facility.
About Keppel REIT (www.keppelreit.com)
Keppel REIT was listed by way of an introduction on 28 April 2006. It is one of Asia's leading REITs with a young and large portfolio of premium Grade A commercial assets in prime business and financial districts pan-Asia.
Keppel REIT's objective is to generate stable income and long-term growth for Unitholders by owning and investing in a portfolio of quality income-producing commercial real estate and real estate-related assets in Singapore and pan-Asia.
The REIT has assets under management of approximately $8 billion in Singapore, key Australian cities of Sydney, Melbourne, Brisbane and Perth, as well as Seoul, South Korea.
Keppel REIT is sponsored by Keppel Land Limited, one of Asia's leading property companies. It is managed by Keppel REIT Management Limited, a wholly-owned subsidiary of Keppel Capital Holdings Pte. Ltd. (Keppel Capital). Keppel Capital is a premier asset manager in Asia with a diversified portfolio in real estate, infrastructure and data centre properties in key global markets.