It is its first sustainability-linked loan transaction in the Hong Kong dollar.
Link Asset Management, the manager of HKEX-listed Link REIT, has secured a $1b five-year sustainability-linked loan from OCBC Bank, the lender announced in a press release.
OCBC Bank will offer reductions in the interest rate on a tiered basis subject to Link’s environmental, social and governance (ESG) performance. Link REIT’s ESG performance will be measured by its continued inclusion in leading global sustainability indices as well as improvements in its Global Real Estate Sustainability Benchmark (GRESB) score. GRESB is a widely recognised sustainability benchmark for real estate and infrastructure investments across the world.
This is Link REIT’s first sustainability-linked loan transaction in Hong Kong dollar. Link REIT’s maiden sustainability-linked loan signed in March this year was in Australian dollar and for general corporate funding purposes, including sustainability initiatives.
Link REIT plans to use the loan proceeds for general working capital and corporate funding purposes.
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