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CDL bags S$500m in green loans for new property developments

CDL bags S$500m in green loans for new property developments.

CITY Developments Limited (CDL) has bagged S$500 million in two green loans, marking the first time such financing will be used in Singapore for new property developments, the mainboard-listed developer announced on Friday. 

A three-year green loan of S$400 million will be provided by DBS Bank, which is also the advisor for the loan. 

Another two-year green loan of S$100 million is being extended by The Hongkong and Shanghai Banking Corporation Limited (HSBC), which is structuring advisor for the loan. 

CDL noted that these loans will allow the group to finance new green developments in Singapore and abroad. 

Source: https://www.businesstimes.com.sg/companies-markets/cdl-bags-s500m-in-green-loans-for-new-property-developments

Adapted from The Business Times 5 April 2019