now loading...
Wealth Asia Connect Middle East Treasury & Capital Markets Europe ESG Forum TechTalk
Green Finance / Treasury & Capital Markets
DBS extends A$295 million green loan to GIC
Singapore sovereign wealth fund to use facility for refinancing of Chifley Tower Sydney
The Asset 22 Jun 2022

DBS has extended a green loan amounting to A$295 million (US$204.72 million) to Singapore’s sovereign wealth fund GIC for the refinancing of Chifley Tower Sydney, a development certified for its sustainability in Sydney’s central business district.

The facility is one of the largest green loans extended by a Singaporean lender in the Australia market and is also DBS’ first AUD-denominated green loan.

Chifley Tower Sydney has received has a Green Star certification from the Green Building Council of Australia and a 5.5-Star energy rating from the National Australian Built Environment Rating System.

Chifley Tower in Sydney's central business district. Photo: GIC 

“We believe that sustainable financing solutions are an important enabler in helping our clients transition towards lower-carbon business models, and GIC’s green loan will set a positive example for other long-term investors and asset managers to make similar moves to green their portfolios,” says Ang Teck Wee, head of government-linked corporations, institutional banking, at DBS.

Chew Chong Lim, head of real estate, institutional banking, at DBS, adds: “Australia is ranked by the Global Real Estate Sustainability Benchmark as one of the greenest real estate markets in the world, and we see a lot of promise for DBS to support property players looking to raise sustainable financing to fund their continued investment in Australia.” 

Conversation
Mathew Kathayanat
Mathew Kathayanat
head of product, Asia Pacific securities services
Deutsche Bank
- JOINED THE EVENT -
Webinar
Unlocking the value of automation and AI in asset management
View Highlights
Conversation
Mildred Chua
Mildred Chua
managing director and group head of syndicated finance
DBS
- JOINED THE EVENT -
In-person roundtable
Finding opportunity amid volatility
View Highlights