SINGAPORE - Green loans have been gaining popularity among Singapore developers as more look towards such financing to support sustainability-related properties.
Both green loans were structured in alignment with the Asia Pacific Loan Market Association's Green Loan Principles and are the first in India to be issued by a Singapore-based lender, DBS said in a separate statement on Wednesday. CapitaLand India chief executive of business parks Vinamra Srivastava said:"The securing of the first green loans in India demonstrates CapitaLand's commitment to growing our business in a responsible manner as we create long-term value for our stakeholders."
This is Singapore's first green loan referencing the Sora, OCBC and Tong Eng said in a joint press statement on Wednesday. Proceeds will be used to refinance Tong Eng Building, which received the Building and Construction Authority Green Mark Platinum re-certification last month, they said. The green Sora-based loan was raised under the property developer's newly-established green loan framework developed together with OCBC as green loan adviser.