Singapore-listed Keppel REIT has received a S$150m (€99m) green loan facility from OCBC Bank to help grow the real estate investment trust’s (REIT) property portfolio.
Keppel REIT Management, as manager of the S$8bn Keppel REIT, said the latest loan facility can be used to finance or re-finance eligible green projects as well as fund the further growth of Keppel REIT’s green building portfolio.
This is Keppel REIT’s second green loan facility, following a S$505m green loan facility obtained in June this year.
The manager said it has also established the Keppel REIT Green Loan Framework to help its green funding sources.
The Green Loan Framework comprises four core elements that relate to the use of proceeds, project evaluation and selection process, management of proceeds as well as reporting process.
Paul Tham, CEO of the manager, said: “Sustainability is a key tenet of Keppel REIT’s strategy. This commitment extends beyond upholding high environmental standards at our properties but also covers our financing.
“Our Green Loan Framework will provide a clear and structured guide for Keppel REIT as we grow our proportion of green funding sources in our continued drive to build a sustainable future.”
Elaine Lam, head of global corporate banking, OCBC Bank, said: “Keppel REIT is a clear leader in embedding sustainability principles in its business strategies and operations with its commitment on green building standards and time-bound target to reduce its environmental footprint.”