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CEO Paul Tam said the company is continually looking for opportunities to improve its portfolio’s sustainability as part of its long-term strategy.
Keppel REIT on Tuesday (18 June) announced that its subsidiary, Ocean Properties LLP (OP LLP), has obtained a $505 million green secured loan facility.
Under the terms and conditions of the green secured loan facility agreement, the lender may give notice to OP LLP to prepay any outstanding loans in the event Keppel REIT Management ceases to be a directly or indirectly fully-owned subsidiary of Keppel Corporation.
“Assuming the occurrence of the prepayment event which may cause the lender to require OP LLP to prepay the outstanding loans of the green secured loan facility, and such occurrence were to cause a cross-default under other borrowings of the Keppel REIT group, the aggregate level of facilities that may be affected is estimated to be, as at the date of this announcement, approximately $3,444 million (excluding interest and fees),” it said in an SGX filing.
Commenting on the green loan facility, Keppel REIT Management CEO Paul Tam said the company is continually looking for opportunities to improve its portfolio’s sustainability as part of its long-term strategy.
“This is more than just ensuring our office buildings uphold high environmental standards, but also extends to how we look at our financing,” he said.
“The green loan facility reflects our commitment to sustainability, for the benefit of all our stakeholders.”
Victor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this or other stories, email victorkang@propertyguru.com.sg
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