It also issues A$175 million in aggregate principal amount of floating-rate green notes due 2027 under its multicurrency debt issuance programme
KEPPEL Real Estate Investment Trust (Reit) has established a green financing framework that will serve as a reference for all green finance transactions it issues, the Reit’s manager said in a bourse filing on Wednesday (Jun 26).
The framework, developed under the advice of DBS, governs the use of proceeds, the process for project evaluation and selection, the management of proceeds and the reporting process.
It is in line with the International Capital Market Association’s Green Bond Principles 2021 as well as the Green Loan Principles 2023 administered by the Loan Market Association, the Asia Pacific Loan Market Association, and the Loan Syndications and Trading Association.
Keppel Reit’s sustainability-focused funding formed 63 per cent of its total borrowings as at Mar 31, 2024.
Meanwhile, the Reit, with a portfolio of commercial assets in Asia-Pacific, on Wednesday issued A$175 million (S$158.4 million) in aggregate principal amount of floating-rate green notes due 2027 under its S$1 billion multicurrency debt issuance programme.
Net proceeds from the loan will be fully used towards funding a part of Keppel Reit’s acquisition of 50 per cent interest in 255 George Street in Sydney.
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Keppel Reit closed flat at S$0.84 on Wednesday before this announcement was made.
