Keppel Land secures first green loan for Tianjin Eco-City project

KEPPEL Land, a unit of mainboard-listed Keppel Corp, has secured its first green loan facility via its subsidiary of Keppel LandChina, for the Phase 1 development of Seasons City in the Sino-Singapore Tianjin Eco-City.

The green loan, disbursed by HSBC Group China, amounts to 850 million yuan and will be on a five-year term. This is also the first green loan granted by the HSBC Group China for the development of a property project in mainland China, Keppel announced in a bourse filing on Thursday. Seasons City will feature three office towers and retail premises with a total gross floor area of about 161,800 square metres. Phase 1 of Seasons City, comprising a five-storey retail complex and a 10-storey office tower, is targeted for completion in 2020.

Green loans refer to loan instruments that exclusively finance or refinance eligible green projects. The loan to Keppel Land China will be aligned with the Green Loan Principles issued by the Loan Market Association, the Asia-Pacific Loan Market Association and the Loan Syndications & Trading Association.In line with green standards, Seasons City is set to adopt energy-efficient lighting designs, chillers and ventilation systems. The development will also tap solar energy.

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