OUE REIT secures $600 million in unsecured sustainability-linked loan to refinance existing debt

The Edge Singapore 04-23

The loan was upsized after it was twice coveredOUE REIT has secured a $600 million unsecured sustainability-linked loan to help refinance an existing secured debt of $540 million and for general ...

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loan to refinance existing debt\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-04-23 14:39 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.theedgesingapore.com/capital/reits/oue-reit-secures-600-million-unsecured-sustainability-linked-loan-refinance-existing?utm_source=Blog&utm_medium=RSS&utm_campaign=Tiger_Brokers_app_RSS><strong>The Edge Singapore </strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The loan was upsized after it was twice coveredOUE REIT has secured a $600 million unsecured sustainability-linked loan to help refinance an existing secured debt of $540 million and for general ...</p>\n\n<a href=\"https://www.theedgesingapore.com/capital/reits/oue-reit-secures-600-million-unsecured-sustainability-linked-loan-refinance-existing?utm_source=Blog&utm_medium=RSS&utm_campaign=Tiger_Brokers_app_RSS\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU1130305938.SGD","symbol_name":"Schroder ISF Asian Dividend 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average term of debt, on a pro forma basis as of Dec 31 2023 is lengthened to 3.1 years with weighted average cost of debt to remain largely stable. \nThe proportion of unsecured debt will also significantly increase to 86.7% post-refinancing on a pro forma basis. \nAccording to OUE REIT, this SLL is the first that references its recalibrated sustainability performance targets announced on February 29. \nBy doing so, OUE REIT can enjoy savings in interest costs when the reduction target of absolute Greenhouse Gas emissions of commercial properties is achieved. \nHan Khim Siew, CEO of OUE REIT says the increase in the proportion of unsecured debt also enhances the REIT's move to more diverse and competitive source of fundings while keeping borrowing costs stable. \n\"Going forward, we will continue to leverage on our investment-grade credit rating and strengthened relationships with our bankers to enhance our capital structure for the benefit of all unitholders,” he adds.\n\"Over the course of our longstanding partnership with OUE REIT, their commitment to decarbonisation and sustainability has always been clear and strong,\" says Elaine Lam, head of global corporate banking at OCBC.\n\"This partnership with OUE REIT underscores our own commitment to enable and support our customers to transition to a low-carbon future,” she adds.\nOUE REIT closed April 23 at 27 cents, up 3.85%.","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":1,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; 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