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  • Photo: ESR

25.05.2022

Artikel Nummer: 41012

More cash for ESR


The APAC-based real asset group ESR Cayman Limited (ESR) recently secured a loan of SGD 300 million (USD 218 million), with an option to upsize it to SGD 500 million (USD 364 million). Asian banks like the United Overseas Bank (UOB) and the Malayan Banking Berhad (“Maybank”) were involved. It is a so-called "sustainability-linked loan" (SLL), the fourth the ESR Group closed within the past six months.

 

The five-year unsecured, committed corporate facility has the same tiered incentive mechanism as ESR’s inaugural USD 1 billion SLL and the JPY 28 billion SLL which closed in November 2021 and January 2022, respectively.

 

ESR will be entitled to a reduction of interest rate (currently at SORA + 1.65%) as it achieves its sustainability targets. The proceeds will be used to fund the group’s refinancing of existing borrowings, working capital requirements and for so-called "general corporate purposes". (sh)

www.esr.com/en/esg

 

 

 

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