Overview

Bank of China provides SGD 100 million sustainability-linked term loan to Frasers Commercial Trust for debt refinancing

Commitments (Constant USD, 2023)$103,173,382

Commitment Year•2020Country of Activity•SingaporeDirect Recipient Country of Incorporation•SingaporeSector•Business And Other ServicesFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Feb 24, 2020

Last repayment (originally scheduled): Feb 22, 2025

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% host country ownership

Funding agencies

State-owned Commercial Banks

Bank of China (BOC)

Receiving agencies

Private Sector

British and Malayan Trustee Limited

Loan description

Bank of China provides SGD 100 million sustainability-linked term loan to Frasers Commercial Trust for debt refinancing

Interest type•UnknownMaturity•5 years

Narrative

Full Description

Project narrative

On February 24, 2020, Bank of China and British and Malayan Trustee Limited, in its capacity as trustee of Frasers Commercial Trust, signed a SGD 100 million five-year, sustainability-linked term loan. Other lending details are unknown. The proceeds from the loan will be used to refinance unspecified existing borrowings. The loan marks Frasers' first sustainability-linked loan that is based on the LMA/APLMA Sustainability Linked Loan Principles, with the loan having a price reduction feature that lowers interest rates from the second year onwards subject to maintaining a Global Real Estate Stainability Benchmark ("GRESB") rating of 4 or more stars.