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
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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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