A&G News 1 April 2019
Allen & Gledhill advised Frasers Property North Gem Trustee Pte. Ltd. (“Frasers Property North Gem Trustee”), an indirect wholly-owned subsidiary of Frasers Property, on the S$785 million green term loan facility arranged by Oversea-Chinese Banking Corporation Limited, DBS Bank Ltd., Bank of China Limited and Sumitomo Mitsui Banking Corporation to refinance existing loans relating to Northpoint City South Wing, which is part of the largest integrated development in the north of Singapore. In recognition of the development’s environmentally-friendly design, the Singapore Building and Construction Authority has conferred it a Green Mark Gold Plus rating.
The loan was issued under Frasers Property’s Green Loan Framework, established under the LMA/APLMA Green Loan Principles. The Framework details clear guidelines on how Frasers Property will evaluate and select eligible green projects based on the Fraser Property Group’s sustainability objectives, as well as manage the net proceeds from green loans, including reporting on the manner in which the net loans are allocated.
Advising Frasers Property North Gem Trustee was Allen & Gledhill Partner Lim Wei Ting.