SINGAPORE: CapitaLand Mall Trust Management Limited (CMTML), the manager of CapitaLand Mall Trust (CMT), and United Overseas Bank Limited (UOB) announced that UOB has converted a S$200 million revolving credit facility extended to CMT into a sustainability-linked loan.

This is CMT’s first sustainability-linked loan, of which proceeds will be used for general corporate purposes. UOB also acted as the sustainability agent and coordinator for this transaction.

Under the terms of the sustainability-linked loan, UOB will offer CMT tiered interest rates on the facility based on CMT’s achievements in the annual GRESB Real Estate assessment. GRESB is a leading environmental, social and governance (ESG) benchmark for real estate and infrastructure companies’ ESG efforts in management, environmental performance and building development.

CMT was recognised as the leader in the Asia “Retail –Listed”category in GRESB 2019.

Mr Tony Tan, CEO of CMTML, said: “The sustainability-linked loan from UOB marks another milestone in CMT’s journey to continually strengthen our ESG standards while creating long-term value for our stakeholders. It follows CMT’s first S$200 million green loan secured on 1 October 2019 to finance the Building and Construction Authority Green Mark-certified properties in our portfolio. CMT is firmly committed to sustainability and we are pleased to be able to capitalise on our ESG achievements to enhance our financial position, especially during these uncertain times.”

Mr Leong Yung Chee, Head of Corporate Banking Singapore, UOB, said: “At UOB, we are committed to collaborating with our clients to advocate sustainable development. This sustainability-linked loan demonstrates how UOB and CMT are working together to drive responsible growth for the benefit of our community. It also builds on our efforts to help more companies in Singapore improve their ESG impact through the use of sustainable financing solutions.”

CMT is the largest retail real estate investment trust in Singapore by market capitalisation. In addition to GRESB, CMT is included in several indices, including the FTSE4Good Index Series (FTSE4Good), iEdge SG ESG Indices, FTSE EPRA Nareit Global Real Estate Index Series and FTSE Straits Times Index.

CapitaLand Mall Trust (CMT) is the first real estate investment trust (REIT) listed on Singapore Exchange Securities Trading Limited (SGX-ST) in July 2002. At S$7.2billion as at 30 June2020, CMT is also the largest retail REIT by market capitalisation in Singapore.CMT owns and invests in quality income-producing assets which are used, or predominantly used, for retail purposes primarily in Singapore. CMT’s 15 quality shopping malls, which are strategically located in the suburban areas and downtown core of Singapore, comprise Tampines Mall, Junction 8, Funan, IMM Building, Plaza Singapura, Bugis Junction, JCube, Raffles City Singapore (40.0% interest), Lot One Shoppers’ Mall, 90 out of 91 strata lots in Bukit Panjang Plaza, The Atrium@Orchard, Clarke Quay, Bugis+, Bedok Mall and Westgate.

As at 30 June2020, CMT owns 10.9% interest in CapitaLand Retail China Trust, the first China shopping mall REIT listed on SGX-ST in December 2006. CMT is managed by CapitaLand Mall Trust Management Limited, which is a wholly owned subsidiary of Singapore-listed CapitaLand Limited, one of Asia’s largest diversified real estate groups. www.cmt.com.sg

CapitaLand Limited (CapitaLand) is one of Asia’s largest diversified real estate groups. Headquartered and listed in Singapore, it owns and manages a global portfolio about S$134.7 billion as at 30 June 2020. CapitaLand’s portfolio spans across diversified real estate classes which includes commercial, retail; business park, industrial and logistics; integrated development, urban development; as well as lodging and residential. With a presence across more than 220 cities in over 30 countries, the Group focuses on Singapore and China as its core markets, while it continues to expand in markets such as India, Vietnam, Australia, Europe and the USA. www.capitaland.com

United Overseas Bank Limited (UOB) is a leading bank in Asia with a global network of more than 500 offices in 19 countries and territories in Asia Pacific, Europe and North America. Since its incorporation in 1935, UOB has grown organically and through a series of strategic acquisitions. UOB is rated among the world’s top banks: Aa1 by Moody’s Investors Service and AA-by both S&P Global Ratings and Fitch Ratings. In Asia, UOB operates through its head office in Singapore and banking subsidiaries in China, Indonesia, Malaysia, Thailand and Vietnam, as well as branches and representative offices across the region. www.uobgroup.com