OUE REIT wins SBR National Business Award 2024
OUE REIT is honoured to be recognised at the Singapore Business Review National Business Award 2024, winning the "Commercial Real Estate Trust" category. This Award underscores our dedication to aligning our refinancing requirements with our sustainability commitment over the past two years. Our efforts included securing the largest sustainability-linked loan ("SLL") among Singapore REITs to date in 2022, as well as the successful completion of our third SLL in 2023. With the 2 facilities in place, OUE REIT now has one of the highest proportions of SLLs among Singapore REITs.
However, our green financing journey does not end here. In February 2024, we unveiled our recalibrated ESG targets and pledged to achieve 90% of our total debt to be green financing by 2030.
This commitment was further solidified in April 2024 as we successfully obtained another unsecured SLL, marking our first SLL that is tied to our recalibrated target of a 40% absolute reduction in greenhouse gas emissions for commercial properties using FY2023 as a baseline. Backed by strong support from a total of 12 banks, the SLL was oversubscribed by 2.0 times and was subsequently upsized to S$600 million including the greenshoe. Post refinancing,OUE REIThas no further refinancing requirements until the second half of 2025 where only 25% of the total debt is due.
We extend our heartfelt appreciation to our banking partners for their support throughout our green financing journey. Last but not least, a big shoutout to our team at OUE REIT, whose hard work and dedication have made this achievement possible.
However, our green financing journey does not end here. In February 2024, we unveiled our recalibrated ESG targets and pledged to achieve 90% of our total debt to be green financing by 2030.
This commitment was further solidified in April 2024 as we successfully obtained another unsecured SLL, marking our first SLL that is tied to our recalibrated target of a 40% absolute reduction in greenhouse gas emissions for commercial properties using FY2023 as a baseline. Backed by strong support from a total of 12 banks, the SLL was oversubscribed by 2.0 times and was subsequently upsized to S$600 million including the greenshoe. Post refinancing,OUE REIThas no further refinancing requirements until the second half of 2025 where only 25% of the total debt is due.
We extend our heartfelt appreciation to our banking partners for their support throughout our green financing journey. Last but not least, a big shoutout to our team at OUE REIT, whose hard work and dedication have made this achievement possible.
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OUE REIT is a SGX-listed REIT with over 92% of its assets (hotels, retail and offices) located in Singapore.
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