Mapletree Logistics Trust secures S$200 million green revolving credit facility from OCBC Bank
Mapletree Logistics Trust (“MLT”), a leading provider of logistics space in Asia Pacific, has secured its first green loan, a S$200 million green revolving credit facility (thereafter “Green Loan”), from OCBC Bank.
Proceeds from this Green Loan will be used to finance the working capital requirements in line with the eligibility criteria of MLT’s newly established Green Loan Framework (“Framework”). The Framework was prepared in line with the relevant international principles and guidelines1.
OCBC Bank is the green loan advisor and sole lender for this Green Loan.
MLT’s first foray into sustainable finance, back in November 2019, was also supported by OCBC Bank through a S$200 million sustainability-linked loan that was designed to incentivise MLT to expand the renewable energy generation capacity for its portfolio.
Ms Elaine Lam, Head of Global Corporate Banking, OCBC Bank, said “We are pleased to be Mapletree Logistics Trust’s trusted partner on their sustainable finance journey. The continued commitment from like-minded corporates like Mapletree Logistics Trust is not just important for sustainable financing’s growth, but also contributes to the larger goal of developing low-carbon, smart cities. This is in line with our goal to promote greener and more sustainable development outcomes that will play a role in mitigating the adverse effects of climate change for the good of future generations.”
1.Green Bond Principles ("GBP") 2018 by the International Capital Market Association; Green Loan Principles ("GLP") 2020 by the Loan Market Association, Asia Pacific Loan Market Association and Loan Syndications and Trading Association.