ESR exceeds $2.56b refinancing target

Facility combines multiple loans into a five-year funding structure.

ESR has upsized its sustainability-linked refinancing facility beyond its initial $2.56b (US$2b) target after receiving strong demand from a global lender syndicate.

The five-year refinancing facility consolidates several existing loan facilities into a single multi-currency structure across multiple funding currencies.

It also broadens ESR’s lender base through new and expanded banking relationships across Europe and the Middle East alongside established Asia-Pacific (APAC) partners.

The facility was fully underwritten by a core group of banks including HSBC, Mizuho, Qatar National Bank, Singapore Branch, UOB, Maybank, and OCBC.

ESR said the refinancing strengthens its capacity to drive growth initiatives across logistics real estate, data centres and adjacent energy infrastructure in key APAC markets.

The company also completed about $1.41b (US$1.1b) in net debt repayments in 2025 and said it is targeting further deleveraging initiatives in 2026.

Matthew Lawson, chief financial officer of ESR, said the refinancing demonstrated the company’s approach to capital management.

“This refinancing is a tangible demonstration of ESR’s disciplined approach to capital management for long-term growth,” Lawson said.

He added that the oversubscribed facility shows lenders’ support for ESR’s updated strategy and gives the company greater capacity to pursue opportunities in logistics real estate and data centres.

The refinancing enables ESR to simplify its business and grow its core logistics and data centre businesses through its APAC platform.

(US$1 = SG$1.28)

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