GuocoLand bags $1.24b green facilities from DBS and OCBC

The green facilities will refinance Guoco Midtown and Midtown Bay.

GuocoLand has secured two green facilities from DBS and OCBC, which were raised under its Green Finance Framework.

The $1.135b green facility from DBS will be used to refinance GuocoLand’s latest integrated mixed development, Guoco Midtown, whilst the $105m green facility will be used to refinance its luxury residential development, Midtown Bay.

The new green facilities bring the total amount of green financing secured by GuocoLand to approximately $5b, including green facilities for Guoco Tower, Lentor Mansion, Lentor Modern, Midtown Modern, and the Upper Thomson Road development.

“We are pleased to once again partner with DBS and OCBC for our funding and to further our sustainability aspirations. This latest refinancing activity allows us to optimise our capital structure while staying true to our commitment to creating thoughtfully designed spaces that balance economic, environmental, and social factors,” Andrew Chew, group CFO of GuocoLand said.

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