First $300 mil in Green and Sustainability-linked Loans Secured by UIC

United Industrial Corporation (UIC) has secured its original green and sustainability-linked loans totaled $300 million. The loans out of UOB and DBS Bank include two thirds revolving credit agreements.

Pasir Ris 8 Pasir Ris price land cost works out to be $684.48 mixed-used per square foot.

The first is a $200 million sustainability-linked loan, and this will be for partial reimbursement of current amenities and general corporate purposes. It strengthens the team’s long-term devotion towards sustainability and responsible growth.

The profits of the $100 million green loan will go towards a significant updating of this 48-storey Singapore Land Tower in 50 Raffles Place. It’s the first significant asset enhancement because the outside facade has been reclad in 2002. The improvement will present green features like energy efficient elevators and light, a very low emissivity double-glazed outside curtain wall system, and priority parking for electric/hybrid cars.

The $100 million green loan along with the $200 million sustainability-linked loan have been extended to a 50-50 basis by UOB and DBS Bank. They’re issued under the UIC Sustainable Finance Framework, which will be coordinated with the Green Loan Basics and Sustainability-linked Loan Basics from the Loan Market Association and the Asia Pacific Loan Market Association.