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CapitaLand Mall Trust snags maiden S$200m green loan from OCBC

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Capitaland Mall Trust (CMT) has secured a S$200 million, five-year green loan from OCBC Bank, its manager announced on Tuesday.

CAPITALAND Mall Trust (CMT) has secured a S$200 million, five-year green loan from OCBC Bank, its manager announced on Tuesday. 

This mark's CMT's first foray into green financing where all proceeds will be used to finance or refinance properties within its portfolio that have achieved the BCA Green Mark certification.

In support of the BCA's Green Building Masterplan, CMT is committed to achieving BCA Green Mark certification for all its operational properties by 2020.

As of end August this year, 14 of CMT's 15 properties are certified BCA Green Mark Gold and above, the manager said. These include Funan Mall (BCA Green Mark GoldPLUS) and Westgate (BCA Green Mark Platinum). 

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Tony Tan, CEO of the manager, noted: "The green loan attests to CMT's green initiatives and supports our efforts in creating a more sustainable environment. It allows us to diversify our funding sources, with the flexibility to deploy the proceeds to the majority of CMT's properties that are already certified green."

Elaine Lam, OCBC's head of global corporate banking added: "In 2019, we have seen an exponential growth in the sustainable finance sector in Singapore, and we are now only entering the early phase of a trend, which will persist for years to come."

The manager also noted that it has established a green loan framework guided by the green loan principles from the Loan Market Association and the Asia Pacific Loan Market Association.

CMT is listed in several sustainability indices including the FTSE4Good Developed Index, FTSE4Good ASEAN 5 Index, iEdge ESG Leaders Index and the iEdge ESG Transparency Index, amongst others. 

Units in CMT closed unchanged at S$2.63 on Monday.