Allen & Gledhill advised Fernvale Lane Pte. Ltd. (the “Borrower”), as transaction counsel, on the S$350 million green loan facilities (the “Facilities”) from DBS Bank Ltd., Malayan Banking Berhad and Oversea-Chinese Banking Corporation Limited (“OCBC”).
The Borrower is a joint venture company held by Frasers Property Limited and China Construction (South Pacific) Development Co Pte. Ltd, as sponsors (the “Sponsors”). The Facilities are to finance, among other purposes, the development of an executive condominium at Fernvale Lane. The Facilities are Singapore’s first green loan for an executive condominium development and also Frasers Property Group’s 10th green financing initiative.
OCBC was appointed green loan coordinator to the Facilities.
Advising the Borrower and the Sponsors was Allen & Gledhill Partner Lim Wei Ting.