S$1.121 billion green club loan facilities to GuocoLand
Allen & Gledhill, as transaction counsel, advised DBS Bank Ltd. (“DBS”), Oversea-Chinese Banking Corporation Limited (“OCBC”), Sumitomo Mitsui Banking Corporation Singapore Branch (“SMBC”) and United Overseas Bank Limited (“UOB”) on the S$974 million and S$147 million green loan facilities to GuocoLand.
The S$974 million green loan facilities will be used to refinance GuocoLand’s borrowings in connection with the commercial component of Guoco Tower, an integrated mixed-use development in Tanjong Pagar, Singapore, and are GuocoLand’s largest green loan facilities to date.
The S$147 million green loan facilities will be used to refinance GuocoLand’s borrowings in connection with Sofitel Singapore City Centre, a five-star luxury hotel in Tanjong Pagar, Singapore.
DBS, OCBC, SMBC and UOB were appointed mandated lead arrangers. DBS, OCBC and UOB were appointed green loan advisors.
Advising DBS, OCBC, SMBC and UOB was Allen & Gledhill Partner Aloysius Ng.