Hongkong Land converts HK$1b DBS facility to sustainability-linked loan
Borrower will receive a tiered discount on interest rate if it achieves predetermined ESG targets agreed with lender
Singapore
PROPERTY developer and investment company Hongkong Land has reached an agreement with DBS to convert an existing HK$1 billion (S$175.8 million) five-year revolving credit facility into a sustainability-linked loan.
The interest rate for the loan will be indexed against environmental, social and governance (ESG) targets, both parties said in a joint statement on Friday.
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