05/10/2021 | Press release | Distributed by Public on 05/10/2021 00:24
OCBC Bank and MFP Solar conclude agreement for Green Term Loan rated Gold by MARC, setting a new milestone for domestic sustainable financing market
Posted Date: May 10, 2021
Malaysian Rating Corporation Berhad (MARC) and OCBC Bank (Malaysia) Berhad (OCBC Bank) today announced the closing of an externally reviewed multi-tranche Green Term Loan Facility (Facility) for MFP Solar Sdn Bhd (MFP Solar). The agreement facilitates the establishment of a RM100 million Facility between OCBC Bank and MFP Solar which will be utilised to finance the development of multiple rooftop solar photovoltaic (PV) installations under a single master facility structure.
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The Red Sea Development Company (TRSDC) secured 14.12 billion Saudi riyals ($3.76bn) in funding through the first locally-denominated Green Financing credit facility. The developer raised the capital through term loan and revolving credit facilities from four banks in Saudi Arabia to fund construction of the multibillion-dollar tourism project on the west coast of the kingdom, it said in a statement on Tuesday.
Banque Saudi Fransi, Riyad Bank, Saudi British Bank and Saudi National Bank were part of the financing deal.
“This is another milestone for the Red Sea Project and Vision 2030,” Jay Rosen, chief financial officer at TRSDC, said. “This financing adds another level of credibility by having the banks support the project. With a fully secured capital structure our project will become more attractive to investors.”
By Mike Turner
12 Apr 2021
Dandara Living, a UK residential property developer, has signed a £60m green revolving credit facility, as real estate companies continue to be some of the heaviest users of the debt markets this year.
HSBC arranged the facility, which will be used to finance 11 sites across the UK.
Dandara’s relationship with HSBC goes back at least to 2016, when the UK lender arranged a £183m facility for the company.The new facility is aligned with the Loan Market Association’s Green Loan Principles, and
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Allied Announces Green Financing Framework
TORONTO, Feb. 03, 2021 Allied Properties Real Estate Investment Trust (TSX:AP.UN)(“
Allied”) today announced its Green Financing Framework (the “
Framework”) in support of its commitment to environmental, social and governance (“
ESG”) and sustainability. Under the Framework, Allied, or any of its subsidiaries may issue green bonds, green loans or other financial instruments to finance or re-finance eligible green projects, as defined in the Framework.
Allied’s Framework has been reviewed by Sustainalytics, a global leader in providing ESG research and analysis. Sustainalytics issued a second party opinion confirming that the Framework aligns with the International Capital Markets Association Green Bond Principles 2018 and the Loan Market Association Green Loan Principles 2020. Scotiabank acted as Green Structuring Advisor for the Framework.