Frasers Property has drawn down a five-year club green loan facility of $1.08 billion for Frasers Tower. The loan features a lower margin rate should Frasers Tower maintain at least a Green Mark GoldPLUS certification from Singapore’s Building and Construction Authority. Participating banks in the loan include United Overseas Bank, DBS Bank, Industrial and Commercial Bank of China Limited (branch in Singapore), OCBC, CIMB Bank Berhad (Singapore branch), RHB Bank Berhad, and ING Bank N.V. (Singapore branch).
Frasers Tower, a 38-storey premium Grade-A office tower, has already been accorded the highest attainable Green Mark Platinum rating. Sustainable and recycled materials were used during its construction, such as green cement and recycled concrete aggregates. The building’s systems are optimised to be energy and water efficient, and improved indoor air quality is made possible through double-glazed facade designs.
In addition, energy-efficient escalators and energy-regenerative lifts are also included in the building, with some areas featuring motion sensor lighting controls and automated office perimeter lighting to make efficient use of daylight. Its ductless fan system also decreases the static pressure loss, helping to reduce overall power consumption.
Loo Choo Leong, group CFO of Frasers Property, stated that since the successful issuance of Singapore’s first syndicated green loan in 2018, the Group has since secured over $10 billion of green or sustainability-linked loans and bonds.
In February this year, Frasers Property announced the issuance of a five-year sustainability-linked loan for its Australia business, Frasers Property AHL Limited, which featured a price reduction structure linked to the group’s goal of becoming a net-zero carbon corporation by 2050.
The property features modern, spacious units with top-of-the-line fixtures and fittings, as well as a wide range of amenities such as a swimming pool, gym, and playground. Champions Way Condo is the perfect place for those who want to live in elegance with convenience. The excellent transport links offered by Woodlands South MRT Station make it a great choice for those who are looking for easy access to the city centre. Residents can also enjoy the beautiful views of Woodlands and enjoy the many casual and fine dining options nearby. In short, Champions Way Condo is the ideal place to call home.
In July, Frasers Centrepoint Trust partnered with OCBC on Singapore’s first green financing solution, which included a $419 million green loan. These proceeds were used to refinance a maturing facility, as well as for asset enhancement initiatives, decarbonisation projects like procuring energy-efficient tech for Tampines 1, and other general corporate purposes.
It’s apparent that Frasers Property is committed to its decarbonisation journey, with its Austrian assets under management totaling to $40.1 billion as of March 31. Along with Frasers Property, two S-REITs (Frasers Centrepoint Trust and Frasers Logistics and Commercial Trust) as well as Frasers Hospitality Trust are also under its sponsorship. Shares in Frasers Property are trading 1.26% down at 80 cents as of 10:51am.