They comprise two three-year revolving credit facilities from UOB and DBS – a S$200 million sustainability-linked loan and a S$100 million green loan.
United Industrial Corporation (UIC) announced on Monday that it had secured its first green and sustainability-linked loans totalling S$300 million ($225.3 million).
The $100 million green loan will be used to fund major upgrading works at the Singapore Land Tower, which is owned by UIC, while the $200 million sustainability-linked loan will be used to partially refinance existing facilities and for general corporate purposes, the announcement said.
The loans, which are extended on a 50-50 basis between the two banks, are issued under the UIC Sustainable Finance Framework, which is aligned with the Green Loan Principles and Sustainability-linked Loan Principles by the Loan Market Association and the Asia Pacific Loan Market Association.
Increased Demand
In the announcement, DBS noted growing interest in sustainable financing over the past year.
«This presents fresh opportunities for us to forge meaningful partnerships to help companies balance business outcomes with meeting the needs of the environment and society,» Chew Chong Lim, DBS managing director and group head of eeal estate, institutional banking, said.
«As we strive towards becoming a more responsible business, we will place a greater focus on key ESG factors that positively impact UIC's stakeholders,» Jonathan Eu, UIC chief operating officer, said.
