BNP Paribas today announced that it is a Joint Green Loan Coordinator for a SGD 1.2 billion (approximately EUR 750 million) five-year syndicated term loan facility (“Facility”) made available to Frasers Property Aquamarine Trustee Pte. Ltd. (as trustee-manager of Aquamarine Star Trust), an indirect wholly-owned subsidiary of Frasers Property Limited which is listed on Main Board of the Singapore Exchange Securities Trading Limited (“Frasers Property”).
The Facility is the first syndicated secured green loan in Singapore and Southeast Asia under the Green Loan Principles. The security provided for the Facility includes Frasers Tower, a Grade A office and retail development located in Singapore’s Central Business District, which was completed in May 2018 and has received the BCA Green Mark Platinum Award under a scheme that was launched in January 2005 to drive Singapore’s construction industry towards more environment-friendly buildings.
The net proceeds of the Facility will be used to refinance the existing loans relating to the development of Frasers Tower. Frasers Property has structured the green loan to ensure that this important asset is financed in a way that aligns with green concepts.
The Facility builds upon BNP Paribas’ global commitment to support projects that make a positive impact on the environment through the provision of sustainable financing solutions. The Facility is made available by a syndicate of six banks, with BNP Paribas and ING Bank N.V., Singapore Branch acting as Joint Green Loan Coordinators.
Joris Dierckx, BNP Paribas Singapore CEO said: “This loan reflects our commitment to supporting projects that make a positive impact on the environment. BNP Paribas has become a recognised market leader in sustainable finance and we will continue to work with clients on projects that support the United Nations’ Sustainable Development Goals (SDGs).”
BNP Paribas sees sustainability as a driver of long-term, responsible business growth for both the Bank and our clients. The Group has made a number of commitments that lead the way on climate transition and sustainability. At the end of 2016, the total amount of loans issued by BNP Paribas and contributing to the SDGs reached €135 billion.
The BNP Paribas Sustainable Future Forum, held annually in Singapore with editions around the world including Paris and New York, showcases the Bank’s role connecting corporates and investors with sustainable finance and investment opportunities.
Saima Farooqi +852 9880 2952 Saima.Farooqi@asia.bnpparibas.com
About BNP Paribas in Asia Pacific www.apac.bnpparibas
In Asia Pacific, BNP Paribas is one of the best-positioned international financial institutions with an uninterrupted presence since 1860. Currently with over 16,000 employees* and a presence in 14 markets, BNP Paribas provides corporates, institutional and private investors with product and service solutions tailored to their specific needs. It offers a wide range of financial services covering corporate & institutional banking, wealth management, asset management, insurance, as well as retail banking and consumer financing through strategic partnerships.
Worldwide, BNP Paribas has a presence in 73 markets with more than 196,000 employees. It has key positions in its three main activities: Domestic Markets and International Financial Services (whose retail-banking networks and financial services are covered by Retail Banking & Services) and Corporate & Institutional Banking, which serves two client franchises: corporate clients and institutional investors. Asia Pacific is a key strategic region for BNP Paribas and it continues to develop its franchise in the region.
* excluding partnerships