The facility will be used for general corporate and working capital purposes, including the refinancing of the existing loan facilities in connection with Manulife US REIT’s green buildings.
Manulife US REIT (MUST) has obtained a US$250 million ($335.7 million) unsecured sustainability-linked loan from DBS and OCBC Bank, with both banks acting as sustainability advisors for the transaction.
The unsecured five-year sustainability-linked loan facility incorporates interest rate reductions linked to sustainability performance targets, including efficient use of energy and water and management of greenhouse gas (GHG) emissions in relation to MUST’s nine office properties in the US.
