CapitaLand Mall converts to S$200 million sustainability-linked loan

By Taylor Fox

New York, Sept. 8 – CapitaLand Mall Trust Management Ltd. and United Overseas Bank Ltd. have converted a S$200 million revolving credit facility extended to CapitaLand Mall Trust into a sustainability-linked loan, according to a news release.

This is CapitaLand Mall Trust’s first sustainability-linked loan, proceeds will be used for general corporate purposes.

Under the terms of the sustainability-linked loan, United Overseas will offer CapitaLand tiered interest rates on the facility based on its achievements in the annual GRESB2 real estate assessment.

GRESB is a leading environmental, social and governance (ESG) benchmark for real estate and infrastructure companies’ ESG efforts in management, environmental performance and building development.

United Overseas acted as agent and coordinator for the transaction.

The real estate group is based in Singapore.

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