Self-storage business StorHub bags S$180 million sustainability-linked loan from CIMB, UOB

SINGAPORE-BASED StorHub Self Storage Group (StorHub) has bagged S$180 million via a sustainability-linked loan from CIMB and UOB.

The company highlighted that the facility is the first of its kind in Asia’s self-storage industry.

The loan has a sustainability-linked margin adjustment tied to two environmental key performance indicators of the company’s 13 properties in Singapore, StorHub said on Monday (Sep 25).

Both CIMB and UOB as lenders also served as joint sustainability advisers and coordinators, with CIMB acting as facility and security agent.

StorHub group chief executive officer Mike Hagbeck said: “This loan exemplifies our steadfast commitment to building a sustainable future and reflects the trust that CIMB and UOB have placed in us to make a positive impact on the environment.”

StorHub added that it is commited to integrating environmental, social, and governance (ESG) principles into its business operations, investment processes, and stewardship. Many of its projects feature energy optimisation systems.

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Founded in 2003, the self-storage platform has owned and managed facilities spanning over 6.4 million square feet of gross floor area and more than 70,000 storage units in various countries which include Australia, Singapore and South Korea.