| For Immediate Release | 4 August 2020 |
HONG KONG (4 August 2020) - Swire Properties has signed a five-year HK$1 billion Green Loan Facility with OCBC Bank, which is part of the developer's ongoing efforts to implement green initiatives at its properties around the world and drive green financing in the real estate industry.
As part of Swire Properties' Sustainable Development (SD) 2030 Strategy, this partnership will fund ongoing green building developments, and allow the Company to adopt environmentally-friendly technologies to save energy, as well as reduce water usage and waste, to name but a few highlights.
Among the projects earmarked to benefit from this loan is Two Taikoo Place - the new triple Grade-A office tower at Taikoo Place which is set to launch in 2022. The building has incorporated many green features in its design and has already earned triple Platinum pre-certification in WELL, BEAM Plus and LEED.
"This newest green financing programme will expand our 'green' capabilities and get us one step closer to reaching our SD 2030 Strategy goals and fulfilling our mission of building vibrant sustainable communities," said Guy Bradley, Chief Executive of Swire Properties. "Whether it's green bonds or sustainability-linked loans, we continue to raise the bar in this new investment sector, and we're delighted to work with a forward-looking partner such as OCBC to encourage green financing and do good for the environment."
Tan Wing Ming, Regional General Manager for North East Asia of OCBC Bank, said, "We're proud to be part of Swire Properties' sustainability journey which began years ago and has reached yet another milestone with this green loan. Sustainable finance is becoming more mainstream in Hong Kong thanks to the leadership by businesses such as Swire Properties. With growing interest from our clients, Hong Kong will continue to be an important market for us as we work towards our goal of building a S$25 billion sustainable finance portfolio by 2025."
In 2019, Swire Properties was the first company in Hong Kong to launch a sustainability-linked loan against its year-on-year environmental, social and governance (ESG) performance improvement targets; and in 2018, the Company also issued its first green bond, which was also the first in the city to obtain certification under the Green Finance Certification Scheme by the Hong Kong Quality Assurance Agency.
About Swire Properties
Swire Properties develops and manages commercial, retail, hotel and residential properties, with a particular focus on mixed-use developments in prime locations at major mass transportation intersections. Swire Properties is listed on the Main Board of the Stock Exchange of Hong Kong and its investment portfolio in Hong Kong comprises Taikoo Place, Cityplaza and Pacific Place as its core holdings. In addition to Hong Kong, the Company has investments in the Chinese mainland, the United States, Singapore and Jakarta.
Visit Swire Properties' website at www.swireproperties.com.
About OCBC Bank
OCBC Bank is the longest established Singapore bank, formed in 1932 from the merger of three local banks, the oldest of which was founded in 1912. It is now the second largest financial services group in Southeast Asia by assets and one of the world's most highly-rated banks, with an Aa1 rating from Moody's. Recognised for its financial strength and stability, OCBC Bank is consistently ranked among the World's Top 50 Safest Banks by Global Finance and has been named Best Managed Bank in Singapore by The Asian Banker.
OCBC Bank's key markets are Singapore, Malaysia, Indonesia and Greater China. It has more than 500 branches and representative offices in 19 countries and regions. These include over 250 branches and offices in Indonesia under subsidiary Bank OCBC NISP, and over 80 branches and offices in Mainland China, Hong Kong SAR and Macau SAR under OCBC Wing Hang.
For more information, please visit www.ocbc.com.
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