Developer GuocoLand secures green loans totalling $908 million (updated)

Guoco

15/01/2025 10:16

(Adds detail, paragraphs 2- 4)
       SINGAPORE, Jan 15 (Reuters) - Real estate group
GuocoLand  GUOC.SI  has secured two green loans amounting to a
total of S$1.24 billion ($907.8 million) from Singaporean
lenders DBS  DBSM.SI  and Oversea-Chinese Banking Corp
 OCBC.SI , it said in a statement on Wednesday.
    The deals comprised a S$1.14 billion green loan, GuocoLand's
largest to date, for the refinancing of its latest mixed
property development, Guoco Midtown, and another for S$105
million to refinance its Midtown Bay luxury residential
development, the company said.
    GuocoLand said the loans were raised under a green finance
framework that enables the refinancing of projects that will
deliver environmental and social benefits.
    To date, GuocoLand has secured close to S$5 billion of green
financing, it added.

($1 = 1.3660 Singapore dollars)

 (Reporting by Yantoultra Ngui
Editing by David Goodman)
 ((Yantoultra.Ngui@thomsonreuters.com;))