Lendlease signs S$100 million sustainability-linked term loan facility

By Mary-Katherine Stinson

Lexington, Ky., July 26 – Lendlease Global Commercial Trust Management Pte. Ltd., as manager of Lendlease Global Commercial Real Estate Investment Trust, signed a S$100 million sustainability-linked term loan facility, according to a market release.

Keeping with its green focus, this facility incorporates interest rate reductions linked to predetermined sustainability performance targets.

“This latest sustainability-linked loan marks the continuation of Lreit’s sustainability journey, with sustainable financing now accounting for more than 60% of total borrowings, increasing from 56% previously,” chief executive officer of the manager Kelvin Chow said in the press release.

Proceeds will be used to refinance a loan that is due at the end of 2023 as well as any fees or expenses related to the term loan facility.

This follows on the heels of Lreit’s establishment of S$860 million sustainability-linked term loan facilities in February which was the largest sustainability-linked loan among Singapore REITs.

Lendlease is a Singapore-based real estate investment trust investing in offices and retail spaces worldwide.

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