GuocoLand secures two green financing facilities from DBS Bank and OCBC Bank for $1.135 bilFor the full press release, please see attachment.
GuocoLand has recently secured two green financing facilities from DBS Bank and Oversea-Chinese Banking Corporation. The first facility is worth $1.135 billion and will be used to refinance Guoco Midtown, while the second facility worth $105 million will be used to refinance Midtown Bay.
According to GuocoLand, the $1.135 billion financing facility for Guoco Midtown is their largest green financing to date. The company also added that the two facilities were raised under their Green Finance Framework. So far, GuocoLand has raised a total of $5 billion in green financing, including facilities for other developments such as Guoco Tower, Lentor Mansion, Lentor Modern, Midtown Modern, and the upcoming Upper Thomson Road Development.
Andrew Chew, the Group CFO of GuocoLand, stated that this latest refinancing activity allows the company to optimize their capital structure while staying true to their commitment of creating thoughtfully designed spaces that balance economic, environmental, and social factors.
Shares in GuocoLand closed at $1.45 on Jan 15. The company’s stock has remained flat. To learn more about this news, please refer to the attached press release.