A&G News 6 December 2021
Allen & Gledhill, as transaction counsel, advised ARA Asset Management Limited (“ARA”) on its US$1 billion sustainability-linked loan facilities from DBS Bank Ltd. (“DBS”), Oversea-Chinese Banking Corporation Limited (“OCBC”), Sumitomo Mitsui Banking Corporation Singapore Branch (“SMBC”), Malayan Banking Berhad, Singapore Branch, The Bank of East Asia, Limited, Singapore Branch and Crédit Agricole Corporate and Investment Bank.
DBS, OCBC and SMBC were appointed sustainability advisors, and DBS was also appointed facility agent.
This is the first sustainability-linked loan for ARA and one of the largest sustainability-linked loans for real estate asset management companies in Singapore. The facility is also the largest facility to be pegged to the Singapore Overnight Rate Average (SORA).