Singapore’s GuocoLand enters S$498.6 million green facility

By William Gullotti

Buffalo, N.Y., July 13 – GuocoLand Ltd. entered a S$498.6 million green club facility provided by DBS Bank Ltd. and Overseas-Chinese Banking Corp., Ltd. (OCBC) on Thursday, according to a company announcement.

The green facility was raised under the company’s green finance framework, following its June 28 entry into another green facility totaling S$974 million to refinance the commercial component of Guoco Tower.

GuocoLand has now secured a total of more than S$2.9 billion of green financing to date.

Proceeds from the new facility will be used to help finance the development of the company’s Lentor Gardens site.

GuocoLand is an investment holding company that focuses on real estate properties in Singapore, China, Malaysia and Vietnam.

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