Sun Venture obtains 85.5 million-pound green loan from OCBC

INVESTMENT firm Sun Venture has obtained an 85.5 million-pound (S$159.2 million) green loan from OCBC through the bank's London branch, the two entities said in a joint release on Monday.

The loan will be used for the refinancing of 1 New Oxford Street, an office and retail development that Sun Venture owns in central London.

The building has been certified "Excellent" under the Building Research Establishment Environmental Assessment Method (BREEAM), a recognition given to the top 10 per cent of new and non-domestic buildings in the United Kingdom meeting BREEAM's sustainability criteria.

According to the release, its green features include "energy-saving Variable Refrigerant Flow (VRF) air conditioning, garden roof terraces and 100 cycle spaces to encourage the use of clean transportation."

OCBC is the sole lender and green loan advisor for the transaction. The green loan was extended under Sun Venture's existing Green Loan Framework, which was developed with OCBC in 2019 for the financing of 71 Robinson Road.

OCBC's head of global commercial banking Linus Goh noted a "clear shift" in the way companies are building sustainability factors into their business strategies and tapping sustainable finance.

KEYWORDS IN THIS ARTICLE

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes