Capitaland Ascott Trust secures $165m OCBC 1.5°C loan

It is the first lodging trust to secure such a facility.

Capitaland Ascott Trust (CLAS) has obtained a $165m sustainability-linked revolving credit facility from OCBC.

CLAS is the first lodging trust to secure such a facility called the OCBC 1.5°C loan

The loan provides CLAS with interest rate reductions upon achieving specified annual targets for reducing greenhouse gas emissions.

CLAS will use the proceeds of the facility for general corporate purposes.

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