Hoi Hup Realty bags maiden S$332.5m green loan
Loan will partially finance the S$475 million acquisition of Hyatt-branded luxury hotel Andaz Singapore
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Singapore
SINGAPORE property developer Hoi Hup Realty has secured a S$332.5 million green club loan to partially finance its S$475 million acquisition of Hyatt-branded luxury hotel Andaz Singapore.
The loan was obtained through Hoi Hup's subsidiary, Ophir-Rochor Hotel, and is the group's first green loan. It is also the first green loan for South-east Asia's hospitality industry, according to a joint statement by OCBC Bank and Hoi Hup on Monday.
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