Mon, Mar 09, 2020 – 12:06 PM
MAPLETREE Investments has obtained a 200 million euro (S$310 million) sustainability-linked loan from OCBC Bank, which will be used for general working capital and corporate funding purposes.
The loan is linked to key environmental, social and governance (ESG) initiatives that Mapletree focuses on. If pre-set ESG targets are met, the interest rate on the loan will be subsequently reduced on a tiered basis.
Mapletree will report its actual ESG performance on an annual basis, OCBC announced on Monday.
Mapletree Investments is the sponsor of four Singapore-listed real estate investment trusts (Reits). They are Mapletree Logistics Trust, Mapletree Industrial Trust, Mapletree Commercial Trust and Mapletree North Asia Commercial Trust.
The real estate development and investment company also manages six private equity real estate funds.
OCBC noted that the latest sustainability-linked loan is Mapletree Group’s fourth sustainable finance transaction with the lender.
As at 11.43am on Monday, all four Mapletree-sponsored Reits were trading lower.
Mapletree Logistics Trust units traded S$0.12 or 6 per cent lower at S$1.87, Mapletree Industrial Trust units fell S$0.10 or 3.3 per cent to S$2.89, Mapletree Commercial Trust units dropped S$0.06 or 2.6 per cent to S$2.22, and Mapletree North Asia Commercial Trust units were at S$1.07, down S$0.06 or 5.3 per cent.