Frasers Property secures fourth sustainability-linked loan for Australia business

SINGAPORE (EDGEPROP) - Frasers Property Australia (FPA), the Australian arm of Singapore-listed Frasers Property, has secured a A$600 million ($588 million) sustainability-linked loan. The five-year loan is made up of a A$300 million term loan which will be used to refinance a maturing loan as well as a A$300 million revolving credit facility that will be used for general corporate purposes.

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This is the fourth green financing secured by Frasers Property’s Australia business. “We are encouraged by the credit market’s recognition of our Australia business’s strong sustainability credentials and the group’s financial strength,” remarks Loo Choo Leong, group CFO of Frasers Property, in a May 30 press release.

Frasers Property plans to finance the majority of its sustainable asset portfolio by 2024 with green of sustainable financing. “We are pleased with our progress thus far, having secured over $8 billion of green or sustainable financing across the group since our first green loan in September 2018,” Loo adds.

Frasers Property’s operations in Australia are certified carbon neutral under the Australian Government’s Climate Active Carbon Neutral Standard. FPA has set a net-zero carbon target in development and operation by 2028.