Frasers Property secures $309 mil sustainability-linked loan in Australia

/ EdgeProp Singapore
April 20, 2021 4:13 PM SGT
SINGAPORE (EDGEPROP) - Subsidiaries of Frasers Property — Frasers Property AHL (FPAHL) and Frasers Property Industrial Australia (FPIA) — have jointly secured an A$300 million ($309.4 million) syndicated sustainability-linked loan, with an accordion option of A$25 million.
Ozito-at-Rubix-Connect - EDGEPROP SINGAPORE
In line with the Group's sustainability principles, Real Utilities, part of Frasers Property, will provide clean energy technologies to Rubix Connect Estate in Victoria, Australia (Credit: Frasers Property)
Under terms of the loan, interest cost will be reduced from the second year onwards if both Frasers Property Australia (FPA) — of which FPAHL is a subsidiary — and FPIA maintain a four-star rating or above in each of their Global Real Estate Sustainability Benchmark (GRESB) Development reports and GRESB Standing Investments reports.
The loan is Frasers Property’s 15th green and sustainability linked financing since Frasers Property raised the group’s first green loan in September 2018. As at Dec 31, 2020, the group has secured green and sustainability-linked financing totalling $4 billion.
By 2024, Frasers Property aims to finance the majority of its new green and sustainable asset portfolio with green and sustainable financing.