The loan facility features a two-tier incentive mechanism where the Trust is entitled to a reduction in its interest rate when predetermined sustainability performance targets are met.
Ascendas India Trust has, on April 13, obtained a five-year $100 million unsecured sustainability-linked loan facility from UOB, a first for the Trust.
The Trust says it intends to use the proceeds from the loan for general corporate and working capital requirements. This includes the refinancing of existing borrowings, the redevelopment of properties, acquisitions, capital expenditure or asset enhancement works of the Trust’s properties.
