SINGAPORE (Reuters) – Real estate group GuocoLand has secured two green loans amounting to a total of S$1.24 billion ($907.8 million) from Singaporean lenders DBS and Oversea-Chinese Banking Corp, 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)
