Elite Commercial REIT clinches $24.6m green loan facility

The facility was raised under the REIT’s Sustainable and Sustainability-Linked Finance Framework.

Elite Commercial REIT (EC REIT) secured its first green revolving credit facility of $24.6m (£15m), raised under its Sustainable and Sustainability-Linked Finance Framework.

The REIT’s manager will use the proceeds of the facility to fund agreed-upon sustainability-related asset enhancement initiatives and eligible green projects for assets occupied by the DWP and MOD, including existing and new projects in the future.

As of 30 November, no loans have been drawn down from the facility.

CIMB Bank Berhad, Singapore (CIMB Singapore) was the lender for the facility. It also acts as the lead financial sustainability advisor for the REIT.